First Midwest Bank Trust Division acquired a new position in OGE Energy Corp. (NYSE:OGE) during the second quarter, Holdings Channel reports. The institutional investor acquired 8,450 shares of the company’s stock, valued at approximately $277,000.
Other hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. increased its stake in OGE Energy Corp. by 559.9% in the second quarter. Alps Advisors Inc. now owns 94,806 shares of the company’s stock worth $3,105,000 after buying an additional 80,440 shares in the last quarter. North Point Portfolio Managers Corp OH bought a new stake in OGE Energy Corp. during the second quarter worth about $236,000. UMB Bank N A MO bought a new stake in OGE Energy Corp. during the second quarter worth about $341,000. Bank of Montreal Can bought a new stake in OGE Energy Corp. during the second quarter worth about $651,000. Finally, Mercer Capital Advisers Inc. increased its stake in OGE Energy Corp. by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 6,867 shares of the company’s stock worth $225,000 after buying an additional 50 shares in the last quarter. 64.25% of the stock is owned by institutional investors.
OGE Energy Corp. (NYSE:OGE) traded down 1.23% during trading on Friday, hitting $29.62. 822,428 shares of the company’s stock were exchanged. OGE Energy Corp. has a 52-week low of $23.37 and a 52-week high of $33.10. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 25.10 and a beta of 0.66. The firm has a 50 day moving average price of $31.46 and a 200 day moving average price of $30.66.
OGE Energy Corp. (NYSE:OGE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.06. The firm earned $551.40 million during the quarter, compared to analysts’ expectations of $569.62 million. OGE Energy Corp. had a return on equity of 7.14% and a net margin of 11.03%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. On average, equities research analysts predict that OGE Energy Corp. will post $1.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Tuesday, October 11th will be paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 4.09%. This is a boost from OGE Energy Corp.’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, October 6th. OGE Energy Corp.’s dividend payout ratio (DPR) is presently 93.22%.
Several analysts have weighed in on the stock. Zacks Investment Research raised shares of OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday. TheStreet raised shares of OGE Energy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Finally, Jefferies Group lowered their price target on shares of OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating for the company in a research note on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.10.
In related news, VP Jean C. Leger, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total transaction of $311,700.00. Following the completion of the transaction, the vice president now directly owns 14,746 shares of the company’s stock, valued at $459,632.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider H Scott Forbes sold 4,959 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $32.12, for a total transaction of $159,283.08. Following the transaction, the insider now directly owns 22,241 shares of the company’s stock, valued at $714,380.92. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
OGE Energy Corp. 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 in the south central United States. The Company operates through two business 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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