World Asset Management Inc Has $476,000 Stake in OGE Energy Corporation (OGE)
World Asset Management Inc cut its stake in OGE Energy Corporation (NYSE:OGE) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,680 shares of the utilities provider’s stock after selling 39 shares during the period. World Asset Management Inc’s holdings in OGE Energy Corporation were worth $476,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. BlackRock Inc. boosted its stake in OGE Energy Corporation by 3,734.0% in the first quarter. BlackRock Inc. now owns 21,620,533 shares of the utilities provider’s stock valued at $756,286,000 after buying an additional 21,056,622 shares in the last quarter. Vanguard Group Inc. boosted its stake in OGE Energy Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,531,492 shares of the utilities provider’s stock valued at $613,251,000 after buying an additional 902,185 shares in the last quarter. State Street Corp boosted its stake in OGE Energy Corporation by 8.6% in the first quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock valued at $262,117,000 after buying an additional 593,719 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in OGE Energy Corporation by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 2,828,310 shares of the utilities provider’s stock valued at $98,934,000 after buying an additional 196,463 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in OGE Energy Corporation by 1.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,946,540 shares of the utilities provider’s stock valued at $68,090,000 after buying an additional 27,796 shares in the last quarter. 61.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of OGE Energy Corporation (OGE) opened at 35.70 on Friday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The firm has a 50-day moving average of $35.26 and a 200-day moving average of $35.10. The firm has a market capitalization of $7.13 billion, a PE ratio of 18.69 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share 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 analysts’ expectations of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. On average, equities research analysts anticipate that OGE Energy Corporation will post $1.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were paid a dividend of $0.3025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.21 annualized dividend and a dividend yield of 3.39%. OGE Energy Corporation’s dividend payout ratio is currently 63.35%.
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Several analysts recently commented on OGE shares. Jefferies Group LLC restated a “hold” rating and set a $35.00 price target on shares of OGE Energy Corporation in a report on Monday, May 15th. Zacks Investment Research cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Evercore ISI started coverage on shares of OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target for the company. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price target for the company. Finally, BidaskClub cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.17.
In other news, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $662,675.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction that occurred 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 owned by company 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.
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