BlackRock Inc. boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,784,701 shares of the utilities provider’s stock after purchasing an additional 1,963,744 shares during the quarter. BlackRock Inc. owned about 11.91% of OGE Energy worth $779,426,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. 6 Meridian increased its stake in OGE Energy by 20.9% in the 1st quarter. 6 Meridian now owns 14,890 shares of the utilities provider’s stock valued at $488,000 after buying an additional 2,569 shares during the period. AdvisorNet Financial Inc acquired a new position in OGE Energy in the 1st quarter valued at $351,000. GW&K Investment Management LLC increased its stake in OGE Energy by 7.6% in the 1st quarter. GW&K Investment Management LLC now owns 536,283 shares of the utilities provider’s stock valued at $17,574,000 after buying an additional 37,919 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of OGE Energy by 5.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 758,562 shares of the utilities provider’s stock worth $24,859,000 after purchasing an additional 38,707 shares during the period. Finally, New Amsterdam Partners LLC NY acquired a new position in shares of OGE Energy during the 1st quarter worth $483,000. Hedge funds and other institutional investors own 63.32% of the company’s stock.
Shares of OGE Energy traded up $0.14, hitting $34.94, during trading hours on Friday, Marketbeat.com reports. 80,649 shares of the company were exchanged, compared to its average volume of 1,623,035. The firm has a market cap of $6.89 billion, a P/E ratio of 18.20, a PEG ratio of 3.72 and a beta of 0.70. OGE Energy Corp. has a 1 year low of $29.59 and a 1 year high of $37.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.41 and a quick ratio of 0.24.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 30th. Shareholders of record on Tuesday, July 10th will be given a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 3.81%. The ex-dividend date is Monday, July 9th. OGE Energy’s dividend payout ratio (DPR) is 69.27%.
OGE has been the topic of a number of recent analyst reports. Bank of America raised shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday, February 23rd. Guggenheim reaffirmed a “buy” rating and set a $35.00 price target on shares of OGE Energy in a research note on Friday, February 23rd. Zacks Investment Research raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Friday, March 23rd. Finally, ValuEngine cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. OGE Energy has a consensus rating of “Hold” and an average target price of $36.38.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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