Suntrust Banks Inc. lifted its position in shares of OGE Energy Corp. (NYSE:OGE) by 6.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,835 shares of the utilities provider’s stock after buying an additional 5,896 shares during the quarter. Suntrust Banks Inc.’s holdings in OGE Energy were worth $3,599,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in OGE. Penserra Capital Management LLC purchased a new stake in OGE Energy in the 4th quarter valued at about $28,000. Vigilant Capital Management LLC purchased a new stake in OGE Energy in the 4th quarter valued at about $39,000. Proficio Capital Partners LLC grew its holdings in OGE Energy by 79.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,110 shares of the utilities provider’s stock valued at $44,000 after buying an additional 493 shares during the period. Doyle Wealth Management purchased a new stake in OGE Energy in the 4th quarter valued at about $47,000. Finally, Private Capital Group LLC grew its holdings in OGE Energy by 61.3% in the 4th quarter. Private Capital Group LLC now owns 1,368 shares of the utilities provider’s stock valued at $54,000 after buying an additional 520 shares during the period. 69.15% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on OGE. Goldman Sachs Group cut OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price target for the company. in a report on Monday, April 8th. Wolfe Research began coverage on OGE Energy in a report on Friday, March 15th. They issued a “market perform” rating for the company. Zacks Investment Research restated a “hold” rating on shares of OGE Energy in a report on Monday, December 31st. Finally, Guggenheim cut OGE Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. OGE Energy has a consensus rating of “Hold” and a consensus price target of $39.40.
OGE Energy (NYSE:OGE) last issued its earnings results on Thursday, February 21st. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. OGE Energy had a return on equity of 10.80% and a net margin of 18.74%. The business had revenue of $511.80 million during the quarter, compared to analysts’ expectations of $490.80 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, April 9th. OGE Energy’s payout ratio is currently 68.87%.
In related news, VP Kenneth R. Grant sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $42.20, for a total transaction of $63,300.00. Following the transaction, the vice president now directly owns 10,768 shares of the company’s stock, valued at approximately $454,409.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jerry A. Peace sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $42.28, for a total value of $169,120.00. Following the transaction, the vice president now directly owns 18,417 shares in the company, valued at $778,670.76. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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