Rockland Trust Co. Buys 697 Shares of OGE Energy Corp. (NYSE:OGE)

Rockland Trust Co. raised its stake in shares of OGE Energy Corp. (NYSE:OGEFree Report) by 2.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 31,610 shares of the utilities provider’s stock after purchasing an additional 697 shares during the quarter. Rockland Trust Co.’s holdings in OGE Energy were worth $1,084,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of OGE. Janney Montgomery Scott LLC lifted its stake in OGE Energy by 6.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 17,704 shares of the utilities provider’s stock valued at $590,000 after acquiring an additional 1,094 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of OGE Energy during the 3rd quarter valued at about $134,000. Kestra Advisory Services LLC increased its position in shares of OGE Energy by 20.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 16,061 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 2,765 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of OGE Energy during the 3rd quarter valued at about $227,000. Finally, Envestnet Asset Management Inc. increased its position in shares of OGE Energy by 19.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,912 shares of the utilities provider’s stock valued at $4,963,000 after purchasing an additional 24,202 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Up 0.1 %

OGE Energy stock opened at $35.33 on Friday. The firm has a 50 day moving average of $35.33 and a 200 day moving average of $34.44. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 3.31 and a beta of 0.74. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $37.30. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGEGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The business had revenue of $596.80 million during the quarter, compared to the consensus estimate of $607.37 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts predict that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be paid a $0.418 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.67 annualized dividend and a yield of 4.73%. OGE Energy’s payout ratio is 84.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays upped their price target on shares of OGE Energy from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 18th. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Argus lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OGE Energy has an average rating of “Hold” and a consensus target price of $33.60.

View Our Latest Research Report on OGE Energy

OGE Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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