Shell Asset Management Co. Makes New Investment in OGE Energy Corp. (NYSE:OGE)

Shell Asset Management Co. purchased a new position in OGE Energy Corp. (NYSE:OGEGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,391 shares of the utilities provider’s stock, valued at approximately $324,000.

Other institutional investors have also modified their holdings of the company. Belpointe Asset Management LLC grew its stake in shares of OGE Energy by 3.0% during the second quarter. Belpointe Asset Management LLC now owns 8,987 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 259 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of OGE Energy by 0.8% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,510 shares of the utilities provider’s stock worth $1,292,000 after purchasing an additional 263 shares in the last quarter. Securian Asset Management Inc. grew its stake in shares of OGE Energy by 1.6% during the second quarter. Securian Asset Management Inc. now owns 18,251 shares of the utilities provider’s stock worth $704,000 after purchasing an additional 290 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of OGE Energy by 3.6% during the first quarter. Coldstream Capital Management Inc. now owns 8,577 shares of the utilities provider’s stock worth $350,000 after purchasing an additional 297 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of OGE Energy by 60.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 67.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OGE. StockNews.com upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Mizuho reduced their price target on shares of OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, October 13th. TheStreet raised shares of OGE Energy from a “c+” rating to a “b” rating in a research report on Monday, August 22nd. Credit Suisse Group reduced their price target on shares of OGE Energy to $36.00 in a research report on Thursday, October 27th. Finally, Wells Fargo & Company boosted their price target on shares of OGE Energy from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Friday, November 4th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.67.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 3,067 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $38.23, for a total value of $117,251.41. Following the completion of the sale, the vice president now directly owns 22,485 shares of the company’s stock, valued at $859,601.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.90% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $38.42 on Friday. The company has a 50-day simple moving average of $37.55 and a 200-day simple moving average of $38.98. OGE Energy Corp. has a one year low of $33.28 and a one year high of $42.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 0.91. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 3.56 and a beta of 0.68.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Tuesday, October 11th were issued a $0.414 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.31%. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, October 7th. OGE Energy’s dividend payout ratio is presently 35.70%.

OGE Energy Company Profile

(Get Rating)

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.

Featured Articles

Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.