OGE Energy Corporation (OGE) Position Reduced by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. reduced its position in shares of OGE Energy Corporation (NYSE:OGE) by 81.4% during the second quarter, Holdings Channel reports. The institutional investor owned 21,186 shares of the utilities provider’s stock after selling 92,986 shares during the period. Candriam Luxembourg S.C.A.’s holdings in OGE Energy Corporation were worth $737,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Heritage Trust Co purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $104,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $138,000. Blue Sky Asset Management LLC purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $152,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 62.62% of the company’s stock.
Shares of OGE Energy Corporation (NYSE:OGE) opened at 35.47 on Tuesday. The stock’s 50 day moving average is $35.26 and its 200-day moving average is $35.15. The firm has a market cap of $7.08 billion, a PE ratio of 18.57 and a beta of 0.88. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.40.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The company had revenue of $586.40 million during the quarter, compared to analyst estimates of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. Analysts expect that OGE Energy Corporation will post $1.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 10th were issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, July 6th. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 63.35%.
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OGE has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price target on shares of OGE Energy Corporation in a research note on Monday, May 15th. BidaskClub upgraded shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target for the company. Finally, Evercore ISI initiated coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. OGE Energy Corporation has an average rating of “Hold” and a consensus price target of $35.17.
In other OGE Energy Corporation news, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
OGE Energy Corporation 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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