Huntington National Bank maintained its stake in OGE Energy Corp. (NYSE:OGE) during the second quarter, Holdings Channel reports. The firm owned 3,770 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in OGE Energy Corp. were worth $119,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in OGE Energy Corp. during the second quarter worth approximately $651,000. Mercer Capital Advisers Inc. raised 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 during the period. Oakbrook Investments LLC raised its stake in OGE Energy Corp. by 12.5% in the second quarter. Oakbrook Investments LLC now owns 10,768 shares of the company’s stock worth $353,000 after buying an additional 1,200 shares during the period. Torch Wealth Management LLC raised its stake in OGE Energy Corp. by 0.9% in the second quarter. Torch Wealth Management LLC now owns 8,194 shares of the company’s stock worth $268,000 after buying an additional 75 shares during the period. Finally, LS Investment Advisors LLC raised its stake in OGE Energy Corp. by 31.7% in the second quarter. LS Investment Advisors LLC now owns 23,309 shares of the company’s stock worth $763,000 after buying an additional 5,610 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.
OGE Energy Corp. (NYSE:OGE) traded down 1.23% on Friday, hitting $29.62. The stock had a trading volume of 822,428 shares. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 25.10 and a beta of 0.66. The company’s 50 day moving average is $31.46 and its 200-day moving average is $30.66. OGE Energy Corp. has a 1-year low of $23.37 and a 1-year high of $33.10.
OGE Energy Corp. (NYSE:OGE) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by $0.06. OGE Energy Corp. had a net margin of 11.03% and a return on equity of 7.14%. The business earned $551.40 million during the quarter, compared to analyst estimates of $569.62 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that OGE Energy Corp. will post $1.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Tuesday, October 11th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis 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 102.54%.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Tuesday, October 4th. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Finally, Jefferies Group reduced their price objective on OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating on the stock in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. OGE Energy Corp. presently has a consensus rating of “Hold” and an average price target of $31.10.
In related news, VP Jean C. Leger, Jr. sold 10,000 shares of OGE Energy Corp. stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total value of $311,700.00. Following the transaction, the vice president now directly owns 14,746 shares of the company’s stock, valued at $459,632.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider H Scott Forbes sold 4,959 shares of OGE Energy Corp. stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 22,241 shares in the company, valued at $714,380.92. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
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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