Meeder Asset Management Inc. decreased its position in shares of OGE Energy Corporation (NYSE:OGE) by 77.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 21,635 shares of the utilities provider’s stock after selling 75,664 shares during the period. Meeder Asset Management Inc.’s holdings in OGE Energy Corporation were worth $753,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in OGE Energy Corporation by 2.2% in the first quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock worth $10,584,000 after buying an additional 6,447 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in OGE Energy Corporation by 9.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 34,250 shares of the utilities provider’s stock worth $1,146,000 after buying an additional 3,060 shares during the last quarter. Clinton Group Inc. purchased a new position in OGE Energy Corporation during the first quarter worth approximately $575,000. Quadrature Capital Ltd purchased a new position in OGE Energy Corporation during the fourth quarter worth approximately $270,000. Finally, KBC Group NV boosted its position in OGE Energy Corporation by 0.8% in the first quarter. KBC Group NV now owns 67,182 shares of the utilities provider’s stock worth $2,350,000 after buying an additional 547 shares during the last quarter. 61.79% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy Corporation (NYSE OGE) traded down 0.78% during mid-day trading on Friday, reaching $35.42. 775,047 shares of the company’s stock traded hands. OGE Energy Corporation has a 12 month low of $29.57 and a 12 month high of $37.40. The stock has a market capitalization of $7.07 billion, a PE ratio of 18.54 and a beta of 0.88. The firm’s 50-day moving average price is $35.26 and its 200 day moving average price is $35.12.
OGE Energy Corporation (NYSE:OGE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The company had revenue of $586.40 million during the quarter, compared to analyst estimates of $563 million. During the same period last year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts predict that OGE Energy Corporation will post $1.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were paid a $0.3025 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.42%. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 63.35%.
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A number of analysts recently issued reports on OGE shares. Jefferies Group LLC restated a “hold” rating and issued a $35.00 price target on shares of OGE Energy Corporation in a research note on Friday, May 5th. Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target for the company. BidaskClub upgraded shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Evercore ISI initiated coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. OGE Energy Corporation presently has an average rating of “Hold” and an average target price of $35.17.
In other news, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the sale, the insider now owns 18,311 shares of the company’s stock, valued at $662,675.09. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
OGE Energy Corporation Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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