Mirae Asset Global Investments Co. Ltd. Has $411,000 Holdings in OGE Energy Corp. (NYSE:OGE)

Mirae Asset Global Investments Co. Ltd. raised its stake in OGE Energy Corp. (NYSE:OGE) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,768 shares of the utilities provider’s stock after acquiring an additional 435 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in OGE Energy were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Authentikos Wealth Advisory LLC acquired a new stake in OGE Energy in the 3rd quarter valued at about $43,000. Avior Wealth Management LLC grew its position in shares of OGE Energy by 572.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock worth $49,000 after buying an additional 1,248 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of OGE Energy during the 3rd quarter worth approximately $105,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of OGE Energy during the 3rd quarter worth approximately $134,000. Finally, AXQ Capital LP acquired a new stake in shares of OGE Energy during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Down 1.9 %

Shares of NYSE OGE opened at $33.82 on Friday. The stock has a market cap of $6.78 billion, a P/E ratio of 16.34, a P/E/G ratio of 3.22 and a beta of 0.73. The firm has a 50 day moving average price of $33.63 and a 200 day moving average price of $34.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. OGE Energy Corp. has a 52-week low of $31.25 and a 52-week high of $38.04.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $986.67 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was down 20.4% on a year-over-year basis. Analysts expect that OGE Energy Corp. will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 8th were paid a $0.418 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend was Friday, April 5th. OGE Energy’s payout ratio is currently 80.68%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OGE shares. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research report on Monday, April 22nd. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.40.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.