Royal London Asset Management Ltd. boosted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 136.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,039 shares of the utilities provider’s stock after buying an additional 39,787 shares during the period. Royal London Asset Management Ltd.’s holdings in OGE Energy were worth $2,508,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of OGE. Gifford Fong Associates purchased a new stake in OGE Energy during the 2nd quarter valued at $141,000. Sigma Planning Corp purchased a new stake in OGE Energy during the 2nd quarter valued at $205,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in OGE Energy during the 3rd quarter valued at $207,000. UMB Bank N A MO purchased a new stake in OGE Energy during the 3rd quarter valued at $217,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in OGE Energy during the 2nd quarter valued at $276,000. 63.04% of the stock is owned by institutional investors.
OGE has been the topic of several recent analyst reports. Barclays initiated coverage on OGE Energy in a research note on Monday, October 22nd. They set a “sell” rating and a $36.00 target price on the stock. UBS Group increased their target price on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, ValuEngine upgraded OGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.67.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.08. The firm had revenue of $698.80 million for the quarter, compared to the consensus estimate of $745.58 million. OGE Energy had a return on equity of 11.01% and a net margin of 29.45%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, equities research analysts expect that OGE Energy Corp. will post 2.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th were paid a $0.365 dividend. This is an increase from OGE Energy’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, October 9th. OGE Energy’s dividend payout ratio (DPR) is 76.04%.
In other news, VP Cristina F. Mcquistion sold 4,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $38.53, for a total value of $154,120.00. Following the transaction, the vice president now directly owns 7,335 shares in the company, valued at approximately $282,617.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Patricia D. Horn sold 10,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $39.50, for a total value of $395,000.00. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
OGE Energy Company 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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