Luminus Management LLC grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 254.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,474 shares of the utilities provider’s stock after acquiring an additional 17,572 shares during the period. Luminus Management LLC’s holdings in OGE Energy were worth $805,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in shares of OGE Energy by 3.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 685,411 shares of the utilities provider’s stock valued at $24,696,000 after acquiring an additional 25,849 shares during the period. Legal & General Group Plc increased its stake in shares of OGE Energy by 10.5% during the 3rd quarter. Legal & General Group Plc now owns 572,130 shares of the utilities provider’s stock worth $20,613,000 after purchasing an additional 54,243 shares in the last quarter. JPMorgan Chase & Co. grew its stake in OGE Energy by 32.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 629,625 shares of the utilities provider’s stock worth $22,780,000 after acquiring an additional 154,856 shares during the period. Shell Asset Management Co. grew its stake in OGE Energy by 45.0% in the 4th quarter. Shell Asset Management Co. now owns 81,681 shares of the utilities provider’s stock worth $2,688,000 after acquiring an additional 25,359 shares during the period. Finally, Icon Advisers Inc. Co. purchased a new stake in OGE Energy in the 3rd quarter worth approximately $1,394,000. Institutional investors own 63.00% of the company’s stock.
In other news, Director Peter D. Clarke acquired 1,850 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $32.40 per share, for a total transaction of $59,940.00. Following the acquisition, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $59,940. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.
OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. OGE Energy had a net margin of 27.38% and a return on equity of 10.64%. The firm had revenue of $501.90 million for the quarter, compared to analyst estimates of $531.39 million. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. equities analysts expect that OGE Energy Corp. will post 2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Tuesday, April 10th will be issued a $0.3325 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.33 dividend on an annualized basis and a yield of 4.22%. OGE Energy’s dividend payout ratio is currently 42.90%.
OGE has been the topic of several recent research reports. Guggenheim restated a “buy” rating and set a $35.00 target price on shares of OGE Energy in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Bank of America upgraded shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Friday, February 23rd. UBS Group initiated coverage on shares of OGE Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Edward Jones lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.00.
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OGE Energy 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 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.
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