Hsbc Holdings PLC grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,332 shares of the utilities provider’s stock after buying an additional 13,933 shares during the period. Hsbc Holdings PLC’s holdings in OGE Energy were worth $5,496,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in OGE. Gifford Fong Associates purchased a new stake in shares of OGE Energy during the 2nd quarter valued at $141,000. Sigma Planning Corp purchased a new stake in shares of OGE Energy during the 2nd quarter valued at $205,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of OGE Energy during the 3rd quarter valued at $207,000. UMB Bank N A MO purchased a new stake in shares of OGE Energy during the 3rd quarter valued at $217,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of OGE Energy during the 2nd quarter valued at $276,000. 62.51% of the stock is owned by institutional investors.
In other OGE Energy news, VP Patricia D. Horn sold 10,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $39.50, for a total value of $395,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Cristina F. Mcquistion sold 4,000 shares of the business’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $38.53, for a total transaction of $154,120.00. Following the completion of the transaction, the vice president now owns 7,335 shares in the company, valued at approximately $282,617.55. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. OGE Energy had a net margin of 29.45% and a return on equity of 11.01%. The firm had revenue of $698.80 million during the quarter, compared to analysts’ expectations of $745.58 million. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that OGE Energy Corp. will post 2.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Thursday, January 10th will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.61%. OGE Energy’s dividend payout ratio (DPR) is 76.04%.
Several analysts have recently issued reports on the stock. Barclays assumed coverage on shares of OGE Energy in a research note on Monday, October 22nd. They set a “sell” rating and a $36.00 price objective for the company. UBS Group upped their price target on shares of OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. ValuEngine raised shares of OGE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, Bank of America cut shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a research report on Tuesday, November 27th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.00.
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OGE Energy 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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