Toronto Dominion Bank Increases Position in OGE Energy Corp. (OGE)
Toronto Dominion Bank increased its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 33.7% in the first quarter, HoldingsChannel.com reports. The firm owned 35,958 shares of the utilities provider’s stock after acquiring an additional 9,062 shares during the period. Toronto Dominion Bank’s holdings in OGE Energy were worth $1,550,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in OGE Energy by 11.5% during the 4th quarter. BlackRock Inc. now owns 28,041,935 shares of the utilities provider’s stock worth $1,098,962,000 after purchasing an additional 2,902,717 shares during the period. Vanguard Group Inc boosted its position in OGE Energy by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 18,631,504 shares of the utilities provider’s stock worth $676,696,000 after purchasing an additional 146,931 shares during the period. FMR LLC boosted its position in OGE Energy by 9.5% during the 4th quarter. FMR LLC now owns 3,806,544 shares of the utilities provider’s stock worth $149,179,000 after purchasing an additional 331,758 shares during the period. Oregon Public Employees Retirement Fund boosted its position in OGE Energy by 3,819.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,093,659 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 3,014,719 shares during the period. Finally, Geode Capital Management LLC boosted its position in OGE Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,793,134 shares of the utilities provider’s stock worth $109,412,000 after purchasing an additional 14,562 shares during the period. 67.65% of the stock is owned by hedge funds and other institutional investors.
NYSE:OGE traded down $0.08 on Friday, reaching $42.93. The stock had a trading volume of 888,126 shares, compared to its average volume of 1,493,776. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.51 and a quick ratio of 0.33. The stock has a market cap of $8.59 billion, a P/E ratio of 20.25, a PEG ratio of 4.36 and a beta of 0.54. OGE Energy Corp. has a 12-month low of $33.19 and a 12-month high of $43.76.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Wednesday, July 10th will be given a $0.365 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.40%. OGE Energy’s payout ratio is currently 68.87%.
In other news, VP Kenneth R. Grant sold 1,500 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $42.20, for a total transaction of $63,300.00. Following the transaction, the vice president now owns 10,768 shares of the company’s stock, valued at $454,409.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jerry A. Peace sold 4,000 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $42.28, for a total transaction of $169,120.00. Following the transaction, the vice president now directly owns 18,417 shares in the company, valued at approximately $778,670.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,575 shares of company stock valued at $235,566. 0.49% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on OGE. Zacks Investment Research cut shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Goldman Sachs Group cut shares of OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price objective for the company. in a research report on Monday, April 8th. Finally, Wolfe Research assumed coverage on shares of OGE Energy in a research report on Friday, March 15th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.20.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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