Strs Ohio lifted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 30.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,541 shares of the utilities provider’s stock after purchasing an additional 10,337 shares during the period. Strs Ohio’s holdings in OGE Energy were worth $1,352,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in OGE Energy by 13.2% in the 1st quarter. Acadian Asset Management LLC now owns 58,195 shares of the utilities provider’s stock valued at $1,788,000 after purchasing an additional 6,779 shares during the period. TIAA FSB bought a new stake in OGE Energy in the 2nd quarter valued at about $843,000. Two Sigma Investments LP bought a new stake in OGE Energy in the 1st quarter valued at about $1,580,000. Pictet Asset Management Ltd. boosted its holdings in OGE Energy by 14.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 67,624 shares of the utilities provider’s stock valued at $2,078,000 after purchasing an additional 8,424 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in OGE Energy by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 858,232 shares of the utilities provider’s stock valued at $26,374,000 after purchasing an additional 15,053 shares during the period. Institutional investors own 63.87% of the company’s stock.
A number of research firms have issued reports on OGE. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and cut their price objective for the company from $40.00 to $35.00 in a report on Monday, April 20th. Mizuho dropped their target price on shares of OGE Energy from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Bank of America restated a “buy” rating and issued a $33.00 target price (up from $32.00) on shares of OGE Energy in a research report on Wednesday, July 8th. Finally, UBS Group upgraded shares of OGE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $35.00 in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.71.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($2.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($2.66). The company had revenue of $431.30 million for the quarter, compared to analyst estimates of $500.27 million. OGE Energy had a positive return on equity of 10.86% and a negative net margin of 4.85%. OGE Energy’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, equities research analysts anticipate that OGE Energy Corp. will post 2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Friday, July 10th were given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Thursday, July 9th. OGE Energy’s dividend payout ratio is 71.76%.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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