Glenmede Trust Co. NA held its position in shares of OGE Energy Corporation (NYSE:OGE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,618 shares of the utilities provider’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in OGE Energy Corporation were worth $354,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in OGE Energy Corporation during the first quarter valued at approximately $11,606,000. Candriam Luxembourg S.C.A. increased its stake in OGE Energy Corporation by 9.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 114,172 shares of the utilities provider’s stock valued at $3,994,000 after buying an additional 9,744 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in OGE Energy Corporation by 2.1% in the first quarter. Nisa Investment Advisors LLC now owns 399,694 shares of the utilities provider’s stock valued at $13,981,000 after buying an additional 8,340 shares during the last quarter. DnB Asset Management AS increased its stake in OGE Energy Corporation by 39.0% in the first quarter. DnB Asset Management AS now owns 20,324 shares of the utilities provider’s stock valued at $711,000 after buying an additional 5,700 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in OGE Energy Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 50,400 shares of the utilities provider’s stock valued at $1,763,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 61.79% of the company’s stock.
OGE Energy Corporation (NYSE OGE) traded up 0.06% on Tuesday, hitting $36.24. 1,148,617 shares of the stock were exchanged. The company has a 50-day moving average of $35.23 and a 200-day moving average of $35.03. OGE Energy Corporation has a 12 month low of $29.57 and a 12 month high of $37.41. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 20.83 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million during the quarter, compared to analyst estimates of $563 million. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts predict that OGE Energy Corporation will post $1.96 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were paid a $0.3025 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.34%. OGE Energy Corporation’s dividend payout ratio is presently 63.35%.
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OGE has been the subject of several recent research reports. Jefferies Group LLC reissued a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research report on Friday, May 5th. Zacks Investment Research downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) began coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price objective for the company. BidaskClub raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Evercore ISI began coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $34.83.
In other news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the sale, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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