Hancock Whitney Corp bought a new position in OGE Energy Corp. (NYSE:OGE) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 39,880 shares of the utilities provider’s stock, valued at approximately $1,720,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Rare Infrastructure Ltd boosted its holdings in shares of OGE Energy by 9.1% in the fourth quarter. Rare Infrastructure Ltd now owns 3,022 shares of the utilities provider’s stock worth $119,000 after buying an additional 251 shares during the period. Financial Counselors Inc. boosted its holdings in shares of OGE Energy by 2.3% in the first quarter. Financial Counselors Inc. now owns 13,200 shares of the utilities provider’s stock worth $569,000 after buying an additional 300 shares during the period. Cetera Advisor Networks LLC boosted its holdings in shares of OGE Energy by 3.4% in the first quarter. Cetera Advisor Networks LLC now owns 9,339 shares of the utilities provider’s stock worth $404,000 after buying an additional 311 shares during the period. Berman Capital Advisors LLC boosted its holdings in shares of OGE Energy by 108.1% during the first quarter. Berman Capital Advisors LLC now owns 616 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 320 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of OGE Energy by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 21,515 shares of the utilities provider’s stock worth $927,000 after purchasing an additional 330 shares during the period. Institutional investors own 68.33% of the company’s stock.
Several analysts recently commented on the stock. Goldman Sachs Group cut shares of OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price target for the company. in a report on Monday, April 8th. Wolfe Research assumed coverage on shares of OGE Energy in a report on Friday, March 15th. They set a “market perform” rating for the company. Finally, Zacks Investment Research upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Monday, February 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. OGE Energy presently has an average rating of “Hold” and a consensus price target of $39.20.
OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $490.00 million for the quarter, compared to the consensus estimate of $490.14 million. OGE Energy had a net margin of 18.42% and a return on equity of 10.51%. OGE Energy’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. Sell-side analysts predict that OGE Energy Corp. will post 2.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Wednesday, July 10th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 3.34%. The ex-dividend date is Tuesday, July 9th. OGE Energy’s payout ratio is presently 68.87%.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
Recommended Story: Commodities
Want to see what other hedge funds are holding OGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OGE Energy Corp. (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.