Monarch Partners Asset Management LLC acquired a new position in shares of OGE Energy Corp. (NYSE:OGE) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 59,955 shares of the utilities provider’s stock, valued at approximately $2,585,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CNB Bank acquired a new stake in shares of OGE Energy during the first quarter worth $26,000. Berman Capital Advisors LLC increased its position in shares of OGE Energy by 108.1% during the first quarter. Berman Capital Advisors LLC now owns 616 shares of the utilities provider’s stock worth $26,000 after buying an additional 320 shares during the period. Cornerstone Advisors Inc. increased its position in shares of OGE Energy by 154.1% during the first quarter. Cornerstone Advisors Inc. now owns 620 shares of the utilities provider’s stock worth $27,000 after buying an additional 376 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of OGE Energy during the fourth quarter worth $28,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of OGE Energy during the first quarter worth $43,000. Institutional investors own 67.65% of the company’s stock.
OGE has been the subject of a number of research reports. Zacks Investment Research upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, April 23rd. Wolfe Research initiated coverage on shares of OGE Energy in a report on Friday, March 15th. They issued a “market perform” rating for the company. Finally, Goldman Sachs Group cut shares of OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price target for the company. in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $39.20.
Shares of OGE traded down $0.08 during trading hours on Friday, reaching $42.93. 888,126 shares of the stock traded hands, compared to its average volume of 1,493,776. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.51 and a quick ratio of 0.33. OGE Energy Corp. has a 52 week low of $33.19 and a 52 week high of $43.76. The firm has a market capitalization of $8.59 billion, a P/E ratio of 20.25, a PEG ratio of 4.36 and a beta of 0.54.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). OGE Energy had a net margin of 18.42% and a return on equity of 10.51%. The firm had revenue of $490.00 million for the quarter, compared to the consensus estimate of $490.14 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Wednesday, July 10th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Tuesday, July 9th. OGE Energy’s payout ratio is currently 68.87%.
In related news, VP Kenneth R. Grant sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $42.20, for a total transaction of $63,300.00. Following the transaction, the vice president now directly owns 10,768 shares of the company’s stock, valued at $454,409.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jerry A. Peace sold 4,000 shares of OGE Energy stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $42.28, for a total transaction of $169,120.00. Following the completion of the sale, the vice president now directly owns 18,417 shares in the company, valued at approximately $778,670.76. The disclosure for this sale can be found here. Insiders have sold 5,575 shares of company stock worth $235,566 over the last three months. 0.49% of the stock is owned by insiders.
OGE Energy Company 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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