Shell Asset Management Co. decreased its position in OGE Energy Corp. (NYSE:OGE) by 20.4% during the second quarter, Holdings Channel reports. The institutional investor owned 8,009 shares of the company’s stock after selling 2,055 shares during the period. Shell Asset Management Co.’s holdings in OGE Energy Corp. were worth $262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ngam Advisors L.P. boosted its position in shares of OGE Energy Corp. by 1.3% in the first quarter. Ngam Advisors L.P. now owns 53,642 shares of the company’s stock worth $1,536,000 after buying an additional 682 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of OGE Energy Corp. by 1.1% in the first quarter. Teachers Advisors Inc. now owns 739,138 shares of the company’s stock worth $21,162,000 after buying an additional 8,283 shares in the last quarter. BlackRock Inc. boosted its position in shares of OGE Energy Corp. by 18.1% in the first quarter. BlackRock Inc. now owns 325,346 shares of the company’s stock worth $9,315,000 after buying an additional 49,747 shares in the last quarter. BlackRock Group LTD boosted its position in shares of OGE Energy Corp. by 9.1% in the first quarter. BlackRock Group LTD now owns 1,012,646 shares of the company’s stock worth $28,990,000 after buying an additional 84,518 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its position in shares of OGE Energy Corp. by 19.7% in the first quarter. BlackRock Japan Co. Ltd now owns 243,105 shares of the company’s stock worth $6,960,000 after buying an additional 40,033 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
OGE Energy Corp. (NYSE:OGE) traded up 0.64% on Wednesday, hitting $30.08. 1,011,564 shares of the stock were exchanged. OGE Energy Corp. has a 1-year low of $23.37 and a 1-year high of $33.10. The company has a market capitalization of $6.01 billion, a PE ratio of 25.49 and a beta of 0.66. The company has a 50-day moving average price of $31.39 and a 200 day moving average price of $30.71.
OGE Energy Corp. (NYSE:OGE) last issued its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.06. The firm earned $551.40 million during the quarter, compared to the consensus estimate of $569.62 million. OGE Energy Corp. had a net margin of 11.03% and a return on equity of 7.14%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. Analysts anticipate that OGE Energy Corp. will post $1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Tuesday, October 11th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from OGE Energy Corp.’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, October 6th. OGE Energy Corp.’s dividend payout ratio is presently 102.54%.
A number of research analysts have commented on OGE shares. Zacks Investment Research upgraded shares of OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, July 5th. Jefferies Group restated a “hold” rating and set a $34.00 price target (up previously from $32.00) on shares of OGE Energy Corp. in a research note on Monday, July 18th. Finally, TheStreet upgraded shares of OGE Energy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.10.
In related news, VP Jean C. Leger, Jr. sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total value of $311,700.00. Following the transaction, the vice president now owns 14,746 shares in the company, valued at approximately $459,632.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider H Scott Forbes sold 4,959 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $32.12, for a total transaction of $159,283.08. Following the completion of the transaction, the insider now owns 22,241 shares in the company, valued at approximately $714,380.92. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.
About OGE Energy Corp.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business 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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