Treasurer of the State of North Carolina Grows Position in OGE Energy Corp. (NYSE:OGE)

Treasurer of the State of North Carolina increased its position in OGE Energy Corp. (NYSE:OGEFree Report) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 90,606 shares of the utilities provider’s stock after purchasing an additional 461 shares during the quarter. Treasurer of the State of North Carolina’s holdings in OGE Energy were worth $3,020,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in OGE Energy during the 3rd quarter worth approximately $4,553,000. Krane Funds Advisors LLC boosted its stake in shares of OGE Energy by 123.5% during the third quarter. Krane Funds Advisors LLC now owns 13,988 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 7,730 shares during the period. Natixis Advisors L.P. boosted its stake in shares of OGE Energy by 46.2% during the third quarter. Natixis Advisors L.P. now owns 104,767 shares of the utilities provider’s stock valued at $3,492,000 after purchasing an additional 33,111 shares during the period. Magellan Asset Management Ltd boosted its stake in shares of OGE Energy by 6.6% during the third quarter. Magellan Asset Management Ltd now owns 176,821 shares of the utilities provider’s stock valued at $5,893,000 after purchasing an additional 10,965 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of OGE Energy in the third quarter valued at about $4,275,000. 66.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays decreased their price objective on OGE Energy from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. LADENBURG THALM/SH SH downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Mizuho boosted their target price on shares of OGE Energy from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 28th. Finally, TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and an average price target of $33.60.

View Our Latest Analysis on OGE

OGE Energy Price Performance

Shares of OGE stock opened at $33.54 on Tuesday. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $39.09. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 3.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. The stock’s 50-day simple moving average is $33.62 and its 200-day simple moving average is $34.17.

OGE Energy (NYSE:OGEGet Free Report) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $566.70 million for the quarter, compared to analyst estimates of $986.67 million. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. OGE Energy’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be given a $0.418 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a yield of 4.99%. OGE Energy’s dividend payout ratio is currently 80.68%.

OGE Energy Company Profile

(Free Report)

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.

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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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