Wedge Capital Management L L P NC Buys 12,753 Shares of OGE Energy Corp. (NYSE:OGE)

Wedge Capital Management L L P NC grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,167 shares of the utilities provider’s stock after purchasing an additional 12,753 shares during the period. Wedge Capital Management L L P NC owned approximately 0.15% of OGE Energy worth $12,605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CNB Bank bought a new stake in shares of OGE Energy during the 1st quarter valued at about $26,000. Berman Capital Advisors LLC boosted its stake in shares of OGE Energy by 108.1% during the 1st quarter. Berman Capital Advisors LLC now owns 616 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of OGE Energy by 154.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 620 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 376 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of OGE Energy during the 1st quarter valued at about $43,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of OGE Energy during the 1st quarter valued at about $44,000. 68.69% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:OGE traded up $0.20 during mid-day trading on Thursday, hitting $42.69. 18,268 shares of the company’s stock were exchanged, compared to its average volume of 962,854. OGE Energy Corp. has a one year low of $35.29 and a one year high of $44.40. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.33 and a current ratio of 0.51. The company has a fifty day moving average price of $42.91. The stock has a market cap of $8.55 billion, a P/E ratio of 20.23, a PEG ratio of 4.56 and a beta of 0.49.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). OGE Energy had a return on equity of 10.17% and a net margin of 18.39%. The business had revenue of $513.70 million for the quarter, compared to the consensus estimate of $589.82 million. During the same period in the previous year, the firm earned $0.55 EPS. The company’s revenue was down 9.4% on a year-over-year basis. Equities analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Wednesday, July 10th were issued a $0.365 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.46 annualized dividend and a yield of 3.42%. OGE Energy’s dividend payout ratio (DPR) is presently 68.87%.

OGE has been the topic of a number of research reports. ValuEngine lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Mizuho initiated coverage on shares of OGE Energy in a research note on Monday, June 17th. They set a “neutral” rating and a $43.50 price objective on the stock. Zacks Investment Research lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Evercore ISI reissued a “hold” rating and set a $39.00 price objective on shares of OGE Energy in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.25.

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

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