United Services Automobile Association purchased a new stake in shares of OGE Energy Corporation (NYSE:OGE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,505 shares of the utilities provider’s stock, valued at approximately $228,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Heritage Trust Co purchased a new stake in OGE Energy Corporation during the first quarter valued at approximately $104,000. Mckinley Capital Management LLC Delaware purchased a new stake in OGE Energy Corporation during the first quarter valued at approximately $138,000. Mn Services Vermogensbeheer B.V. raised its stake in OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock valued at $174,000 after buying an additional 207 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in OGE Energy Corporation during the first quarter valued at approximately $201,000. Finally, Daiwa Securities Group Inc. raised its stake in OGE Energy Corporation by 13.5% in the first quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the utilities provider’s stock valued at $206,000 after buying an additional 700 shares in the last quarter. Institutional investors own 61.94% of the company’s stock.
OGE Energy Corporation (NYSE:OGE) opened at 35.42 on Friday. The stock has a market capitalization of $7.07 billion, a P/E ratio of 20.36 and a beta of 0.88. The stock has a 50 day moving average of $35.20 and a 200 day moving average of $34.88. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. OGE Energy Corporation had a net margin of 15.29% and a return on equity of 10.22%. The business had revenue of $456 million for the quarter. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts expect that OGE Energy Corporation will post $1.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Monday, July 10th will be paid a $0.3025 dividend. The ex-dividend date is Thursday, July 6th. This represents a $1.21 dividend on an annualized basis and a yield of 3.42%. OGE Energy Corporation’s payout ratio is 69.54%.
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Several research firms recently commented on OGE. BidaskClub lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of OGE Energy Corporation in a research report on Thursday. They set a “neutral” rating and a $35.00 price target on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price objective on shares of OGE Energy Corporation in a report on Friday. Finally, Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $34.40.
About OGE Energy Corporation
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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