Nordea Investment Management AB Holds Position in OGE Energy Corporation (OGE)

Nordea Investment Management AB maintained its stake in OGE Energy Corporation (NYSE:OGE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,185 shares of the utilities provider’s stock at the close of the second quarter. Nordea Investment Management AB’s holdings in OGE Energy Corporation were worth $215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of OGE Energy Corporation by 2.2% in the 1st quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock worth $10,584,000 after buying an additional 6,447 shares in the last quarter. Swiss National Bank raised its holdings in shares of OGE Energy Corporation by 2.8% in the 2nd quarter. Swiss National Bank now owns 727,600 shares of the utilities provider’s stock worth $25,313,000 after buying an additional 20,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of OGE Energy Corporation by 33.3% in the 1st quarter. Renaissance Technologies LLC now owns 937,200 shares of the utilities provider’s stock worth $32,783,000 after buying an additional 234,000 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of OGE Energy Corporation by 18.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,315,175 shares of the utilities provider’s stock worth $45,755,000 after buying an additional 202,440 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in shares of OGE Energy Corporation in the 1st quarter worth approximately $2,530,000. 62.54% of the stock is owned by institutional investors and hedge funds.

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OGE has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 target price on shares of OGE Energy Corporation in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) began coverage on OGE Energy Corporation in a report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 target price for the company. BidaskClub raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy Corporation in a report on Friday, September 1st. Finally, Evercore ISI began coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.00.

Shares of OGE Energy Corporation (NYSE:OGE) opened at 36.47 on Thursday. The firm has a market capitalization of $7.28 billion, a PE ratio of 19.09 and a beta of 0.88. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.40. The company’s 50-day moving average price is $36.10 and its 200-day moving average price is $35.37.

OGE Energy Corporation (NYSE:OGE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. Analysts anticipate that OGE Energy Corporation will post $1.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.333 per share. The ex-dividend date is Friday, October 6th. This represents a $1.33 annualized dividend and a dividend yield of 3.65%. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 69.63%.

In other news, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the transaction, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

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.

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

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