Chicago Equity Partners LLC lifted its stake in OGE Energy Corp. (NYSE:OGE) by 170.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,860 shares of the utilities provider’s stock after purchasing an additional 76,200 shares during the quarter. Chicago Equity Partners LLC’s holdings in OGE Energy were worth $4,737,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of OGE. Robeco Institutional Asset Management B.V. raised its holdings in OGE Energy by 71.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 449,311 shares of the utilities provider’s stock worth $16,322,000 after acquiring an additional 187,516 shares during the last quarter. Shell Asset Management Co. raised its holdings in OGE Energy by 25.4% in the 3rd quarter. Shell Asset Management Co. now owns 97,993 shares of the utilities provider’s stock worth $3,559,000 after acquiring an additional 19,863 shares during the last quarter. Quantamental Technologies LLC purchased a new position in OGE Energy in the 4th quarter worth approximately $439,000. DekaBank Deutsche Girozentrale raised its holdings in OGE Energy by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 110,243 shares of the utilities provider’s stock worth $4,103,000 after acquiring an additional 2,678 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in OGE Energy by 2,180.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 508,925 shares of the utilities provider’s stock worth $18,484,000 after acquiring an additional 486,610 shares during the last quarter. 62.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on OGE shares. Barclays started coverage on shares of OGE Energy in a report on Monday, October 22nd. They issued a “sell” rating and a $36.00 price objective for the company. Guggenheim lowered shares of OGE Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Bank of America lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a research note on Tuesday, November 27th. They noted that the move was a valuation call. ValuEngine upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of OGE Energy in a research note on Monday, December 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. OGE Energy currently has an average rating of “Hold” and a consensus target price of $36.80.
Shares of OGE opened at $41.26 on Monday. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 3.74 and a beta of 0.57. The company has a quick ratio of 0.53, a current ratio of 0.76 and a debt-to-equity ratio of 0.72. OGE Energy Corp. has a 1-year low of $29.66 and a 1-year high of $41.80.
OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.08. The business had revenue of $698.80 million during the quarter, compared to analyst estimates of $745.58 million. OGE Energy had a net margin of 29.45% and a return on equity of 11.01%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Sell-side analysts expect that OGE Energy Corp. will post 2.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Thursday, January 10th were paid a dividend of $0.365 per share. The ex-dividend date was Wednesday, January 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.54%. OGE Energy’s dividend payout ratio is presently 76.04%.
In related news, Director Frank A. Bozich bought 10,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was acquired at an average cost of $38.99 per share, for a total transaction of $389,900.00. Following the purchase, the director now owns 15,000 shares in the company, valued at $584,850. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.44% of the stock is currently owned by insiders.
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About OGE Energy
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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