Royal London Asset Management Ltd. Raises Position in OGE Energy Corp. (NYSE:OGE)

Royal London Asset Management Ltd. increased its position in OGE Energy Corp. (NYSE:OGEFree Report) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 625,497 shares of the utilities provider’s stock after buying an additional 27,406 shares during the quarter. Royal London Asset Management Ltd. owned about 0.31% of OGE Energy worth $20,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in shares of OGE Energy by 7.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock worth $265,000 after buying an additional 544 shares during the period. California Public Employees Retirement System raised its position in shares of OGE Energy by 30.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,046,440 shares of the utilities provider’s stock worth $34,878,000 after buying an additional 244,140 shares during the period. Geode Capital Management LLC raised its position in OGE Energy by 4.7% in the second quarter. Geode Capital Management LLC now owns 2,947,896 shares of the utilities provider’s stock valued at $105,859,000 after purchasing an additional 133,574 shares during the period. Natixis Advisors L.P. raised its position in OGE Energy by 46.2% in 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. Finally, AQR Capital Management LLC raised its position in OGE Energy by 93.7% in the third quarter. AQR Capital Management LLC now owns 812,161 shares of the utilities provider’s stock valued at $27,069,000 after purchasing an additional 392,947 shares during the period. 66.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays cut their price objective on OGE Energy from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. Mizuho raised their target price on OGE Energy from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, November 28th. LADENBURG THALM/SH SH downgraded OGE Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. StockNews.com downgraded OGE Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, TheStreet downgraded OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.60.

View Our Latest Research Report on OGE Energy

OGE Energy Stock Up 0.6 %

Shares of OGE stock opened at $34.12 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $39.09. The firm’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $34.16. The firm has a market capitalization of $6.83 billion, a P/E ratio of 16.48, a PEG ratio of 3.98 and a beta of 0.73.

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

OGE Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be paid a dividend of $0.418 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.90%. OGE Energy’s dividend payout ratio is presently 80.68%.

OGE Energy 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.

Read More

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

Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.