Russell Investments Group Ltd. increased its position in shares of OGE Energy Corp. (NYSE:OGE) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,038 shares of the utilities provider’s stock after purchasing an additional 6,822 shares during the period. Russell Investments Group Ltd. owned 0.07% of OGE Energy worth $4,772,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Gifford Fong Associates bought a new stake in OGE Energy during the second quarter worth approximately $141,000. Sigma Planning Corp bought a new position in shares of OGE Energy in the second quarter valued at $205,000. UMB Bank N A MO bought a new position in shares of OGE Energy in the third quarter valued at $217,000. Itau Unibanco Holding S.A. bought a new position in shares of OGE Energy in the second quarter valued at $276,000. Finally, Laurion Capital Management LP bought a new position in shares of OGE Energy in the second quarter valued at $320,000. 63.04% of the stock is currently owned by hedge funds and other institutional investors.
In other OGE Energy news, VP Patricia D. Horn sold 10,000 shares of OGE Energy stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $39.50, for a total transaction of $395,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Cristina F. Mcquistion sold 4,000 shares of OGE Energy stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $38.53, for a total transaction of $154,120.00. Following the transaction, the vice president now owns 7,335 shares in the company, valued at $282,617.55. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.08. The company had revenue of $698.80 million for the quarter, compared to analysts’ expectations of $745.58 million. OGE Energy had a return on equity of 11.01% and a net margin of 29.45%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, analysts anticipate that OGE Energy Corp. will post 2.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th were issued a $0.365 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $1.46 annualized dividend and a dividend yield of 3.75%. This is a boost from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s dividend payout ratio is currently 76.04%.
Several research analysts have issued reports on OGE shares. Barclays started coverage on OGE Energy in a report on Monday, October 22nd. They issued a “sell” rating and a $36.00 price target on the stock. UBS Group upped their price target on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Finally, ValuEngine raised OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.67.
OGE Energy Profile
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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