Longboard Asset Management LP Acquires Shares of 4,913 OGE Energy Corp. (NYSE:OGE)

Longboard Asset Management LP acquired a new stake in OGE Energy Corp. (NYSE:OGEFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,913 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently bought and sold shares of OGE. International Assets Investment Management LLC boosted its holdings in OGE Energy by 3,834.0% in the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares during the period. Verition Fund Management LLC boosted its holdings in OGE Energy by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after purchasing an additional 265,115 shares during the period. State Street Corp lifted its holdings in shares of OGE Energy by 2.8% during the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after acquiring an additional 185,069 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of OGE Energy by 34.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider’s stock worth $24,841,000 after acquiring an additional 154,000 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of OGE Energy during the 3rd quarter worth approximately $4,106,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE stock opened at $42.36 on Wednesday. The company has a 50 day simple moving average of $41.93 and a 200 day simple moving average of $40.93. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 3.15 and a beta of 0.78. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGEGet Free Report) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. Research analysts anticipate that OGE Energy Corp. will post 2.17 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Monday, January 6th. OGE Energy’s dividend payout ratio is 87.05%.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OGE. Barclays cut their price target on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.00.

Check Out Our Latest Stock Report on OGE Energy

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.

See Also

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

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