Wedge Capital Management L L P NC increased its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 14.0% in the 4th quarter, HoldingsChannel reports. The firm owned 500,253 shares of the utilities provider’s stock after acquiring an additional 61,515 shares during the quarter. Wedge Capital Management L L P NC’s holdings in OGE Energy were worth $22,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in shares of OGE Energy by 12.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 50,547 shares of the utilities provider’s stock valued at $2,293,000 after purchasing an additional 5,572 shares during the period. Coldstream Capital Management Inc. raised its position in shares of OGE Energy by 395.8% in the second quarter. Coldstream Capital Management Inc. now owns 23,119 shares of the utilities provider’s stock worth $983,000 after acquiring an additional 18,456 shares during the period. First Trust Advisors LP raised its position in shares of OGE Energy by 4.5% in the third quarter. First Trust Advisors LP now owns 1,996,568 shares of the utilities provider’s stock worth $90,604,000 after acquiring an additional 86,518 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of OGE Energy by 3,210.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 422,452 shares of the utilities provider’s stock worth $19,171,000 after acquiring an additional 409,690 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of OGE Energy during the 2nd quarter worth about $43,897,000. 65.70% of the stock is owned by hedge funds and other institutional investors.
OGE has been the topic of a number of analyst reports. Mizuho raised their target price on OGE Energy from $43.50 to $45.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Evercore ISI reaffirmed a “hold” rating and issued a $42.00 price target on shares of OGE Energy in a report on Monday, December 2nd. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research report on Monday, September 23rd. Finally, UBS Group lowered their price target on OGE Energy from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $43.50.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.14. The firm had revenue of $755.40 million during the quarter, compared to the consensus estimate of $728.22 million. OGE Energy had a net margin of 19.94% and a return on equity of 11.20%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. Equities research analysts anticipate that OGE Energy Corp. will post 2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.3875 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.42%. OGE Energy’s payout ratio is currently 73.11%.
OGE Energy Profile
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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