Hudson Bay Capital Management LP Grows Stock Position in OGE Energy Corporation $OGE

Hudson Bay Capital Management LP grew its position in shares of OGE Energy Corporation (NYSE:OGE) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,393 shares of the utilities provider’s stock after buying an additional 50,387 shares during the period. Hudson Bay Capital Management LP’s holdings in OGE Energy were worth $15,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morningstar Investment Management LLC bought a new stake in OGE Energy in the 2nd quarter valued at about $391,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of OGE Energy in the first quarter worth about $385,000. Inspire Investing LLC raised its position in shares of OGE Energy by 100.2% in the first quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock valued at $1,482,000 after purchasing an additional 16,141 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of OGE Energy by 274.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock valued at $783,000 after buying an additional 12,935 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of OGE Energy by 40.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock valued at $1,928,000 after buying an additional 12,430 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

OGE has been the topic of a number of analyst reports. Royal Bank Of Canada raised shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their price objective on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Barclays raised their target price on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, UBS Group upped their price target on OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

OGE Energy Stock Performance

NYSE:OGE opened at $42.97 on Monday. The stock has a market cap of $8.66 billion, a P/E ratio of 17.26, a PEG ratio of 2.71 and a beta of 0.61. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $44.95 and its two-hundred day moving average price is $44.74. OGE Energy Corporation has a twelve month low of $39.41 and a twelve month high of $47.33.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a return on equity of 10.77% and a net margin of 15.28%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. As a group, equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be given a dividend of $0.425 per share. The ex-dividend date is Monday, January 5th. This represents a $1.70 annualized dividend and a dividend yield of 4.0%. OGE Energy’s dividend payout ratio (DPR) is 68.27%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.