Renaissance Technologies LLC trimmed its stake in shares of OGE Energy Corp. (NYSE:OGE – Free Report) by 94.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,000 shares of the utilities provider’s stock after selling 279,700 shares during the quarter. Renaissance Technologies LLC’s holdings in OGE Energy were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in OGE. Boston Partners raised its holdings in OGE Energy by 3.8% during the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after purchasing an additional 139,872 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in OGE Energy by 31.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after buying an additional 531,730 shares during the last quarter. ProShare Advisors LLC lifted its holdings in OGE Energy by 5.8% in the first quarter. ProShare Advisors LLC now owns 924,246 shares of the utilities provider’s stock valued at $31,702,000 after buying an additional 50,390 shares during the period. Miller Howard Investments Inc. NY boosted its position in OGE Energy by 16.1% during the first quarter. Miller Howard Investments Inc. NY now owns 892,712 shares of the utilities provider’s stock valued at $30,620,000 after acquiring an additional 123,659 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in OGE Energy by 2.6% during the first quarter. Principal Financial Group Inc. now owns 754,113 shares of the utilities provider’s stock valued at $25,866,000 after acquiring an additional 18,794 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on OGE shares. Barclays boosted their price objective on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Evercore ISI lifted their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.80.
OGE Energy Stock Performance
Shares of OGE Energy stock opened at $39.94 on Thursday. The business has a 50-day simple moving average of $39.93 and a 200 day simple moving average of $37.03. OGE Energy Corp. has a one year low of $32.06 and a one year high of $41.48. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 3.67 and a beta of 0.74.
OGE Energy (NYSE:OGE – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter last year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.
OGE Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be issued a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 4.22%. OGE Energy’s dividend payout ratio is presently 84.77%.
OGE Energy 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.
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