Tokio Marine Asset Management Co. Ltd. cut its position in shares of OGE Energy Corp. (NYSE:OGE) by 14.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,936 shares of the company’s stock after selling 1,352 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in OGE Energy Corp. were worth $251,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its stake in OGE Energy Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 11,176 shares of the company’s stock worth $366,000 after buying an additional 32 shares in the last quarter. Mercer Capital Advisers Inc. boosted its stake in OGE Energy Corp. by 0.7% in the third quarter. Mercer Capital Advisers Inc. now owns 6,913 shares of the company’s stock worth $219,000 after buying an additional 46 shares in the last quarter. Stephens Inc. AR boosted its stake in OGE Energy Corp. by 0.8% in the second quarter. Stephens Inc. AR now owns 8,148 shares of the company’s stock worth $267,000 after buying an additional 63 shares in the last quarter. Torch Wealth Management LLC boosted its stake in OGE Energy Corp. by 0.8% in the third quarter. Torch Wealth Management LLC now owns 8,263 shares of the company’s stock worth $261,000 after buying an additional 69 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in OGE Energy Corp. by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,589 shares of the company’s stock worth $445,000 after buying an additional 204 shares in the last quarter. 65.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OGE Energy Corp. (NYSE:OGE) traded down 0.26% on Thursday, hitting $31.20. 1,016,663 shares of the stock traded hands. OGE Energy Corp. has a 12 month low of $23.37 and a 12 month high of $33.10. The company has a market cap of $6.23 billion, a PE ratio of 20.13 and a beta of 0.63. The firm’s 50 day moving average is $30.60 and its 200-day moving average is $31.16.
OGE Energy Corp. (NYSE:OGE) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.01. OGE Energy Corp. had a return on equity of 9.25% and a net margin of 14.24%. The company had revenue of $743.90 million for the quarter. During the same period in the previous year, the business earned $0.55 EPS. OGE Energy Corp.’s revenue was up 3.3% on a year-over-year basis. Equities analysts predict that OGE Energy Corp. will post $1.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Tuesday, October 11th were paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, October 6th. This is a boost from OGE Energy Corp.’s previous quarterly dividend of $0.28. OGE Energy Corp.’s dividend payout ratio is 78.07%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of OGE Energy Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Jefferies Group dropped their price target on shares of OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating on the stock in a research note on Friday, August 5th. Guggenheim assumed coverage on shares of OGE Energy Corp. in a research note on Thursday, November 3rd. They issued a “buy” rating and a $33.00 price target on the stock. Finally, TheStreet raised 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 three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.92.
In other news, insider H Scott Forbes sold 4,959 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $32.12, for a total transaction of $159,283.08. Following the completion of the sale, the insider now owns 22,241 shares in the company, valued at $714,380.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.75% of the company’s stock.
OGE Energy Corp. 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 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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