Zimmer Partners LP lifted its position in shares of OGE Energy Corp. (NYSE:OGE) by 257.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 625,000 shares of the utilities provider’s stock after acquiring an additional 450,000 shares during the period. Zimmer Partners LP’s holdings in OGE Energy were worth $20,569,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Krilogy Financial LLC lifted its holdings in shares of OGE Energy by 133.3% during the 3rd quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 1,600 shares during the period. Amica Retiree Medical Trust bought a new stake in shares of OGE Energy during the 4th quarter worth approximately $109,000. Assetmark Inc. lifted its holdings in shares of OGE Energy by 120.2% during the 4th quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 1,948 shares during the period. Cerebellum GP LLC bought a new stake in shares of OGE Energy during the 4th quarter worth approximately $122,000. Finally, Resources Investment Advisors Inc. lifted its holdings in shares of OGE Energy by 75.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 2,003 shares during the period. 63.00% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on OGE. Guggenheim reaffirmed a “buy” rating and set a $35.00 price target on shares of OGE Energy in a report on Friday, February 23rd. Edward Jones downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Zacks Investment Research downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. UBS Group began coverage on shares of OGE Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $33.00 price target for the company. Finally, Bank of America raised shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.00.
OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business had revenue of $501.90 million during the quarter, compared to the consensus estimate of $531.39 million. OGE Energy had a net margin of 27.38% and a return on equity of 10.64%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. equities analysts expect that OGE Energy Corp. will post 2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Tuesday, April 10th will be paid a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Monday, April 9th. OGE Energy’s payout ratio is 42.90%.
In related news, Director Peter D. Clarke acquired 1,850 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $32.40 per share, with a total value of $59,940.00. Following the purchase, the director now directly owns 1,850 shares in the company, valued at $59,940. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.
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About OGE Energy
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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