State Street Corp Boosts Holdings in OGE Energy Corp. (NYSE:OGE)

State Street Corp grew its holdings in OGE Energy Corp. (NYSE:OGE) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,836,303 shares of the utilities provider’s stock after purchasing an additional 185,069 shares during the quarter. State Street Corp’s holdings in OGE Energy were worth $280,425,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OGE. Cetera Investment Advisers increased its position in OGE Energy by 235.7% during the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock worth $1,989,000 after purchasing an additional 40,710 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of OGE Energy by 10.7% during the second quarter. QRG Capital Management Inc. now owns 16,414 shares of the utilities provider’s stock worth $586,000 after buying an additional 1,585 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of OGE Energy by 45.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,574 shares of the utilities provider’s stock valued at $485,000 after buying an additional 4,229 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after buying an additional 22,899 shares during the period. Finally, Blue Trust Inc. boosted its position in OGE Energy by 12.8% during the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 312 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays increased their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $40.50.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $42.19 on Wednesday. The stock has a market capitalization of $8.48 billion, a P/E ratio of 21.86, a PEG ratio of 3.82 and a beta of 0.77. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The business’s fifty day moving average price is $41.74 and its 200 day moving average price is $39.26. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.41.

OGE Energy (NYSE:OGE) last issued its earnings results 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 firm had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, research analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 3.99%. OGE Energy’s payout ratio is 87.05%.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

OGE Energy Profile

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.