OGE Energy Corp. (OGE) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN grew its stake in OGE Energy Corp. (NYSE:OGE) by 24.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,359 shares of the utilities provider’s stock after buying an additional 51,647 shares during the quarter. Wells Fargo & Company MN owned 0.13% of OGE Energy worth $9,345,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Ffcm LLC boosted its holdings in shares of OGE Energy by 199.8% in the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after buying an additional 2,318 shares during the period. Heritage Trust Co boosted its holdings in shares of OGE Energy by 140.6% in the second quarter. Heritage Trust Co now owns 7,207 shares of the utilities provider’s stock valued at $250,000 after buying an additional 4,211 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of OGE Energy in the third quarter valued at approximately $261,000. Prudential PLC boosted its holdings in shares of OGE Energy by 11.5% in the second quarter. Prudential PLC now owns 8,700 shares of the utilities provider’s stock valued at $303,000 after buying an additional 900 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of OGE Energy by 243.7% in the third quarter. Toronto Dominion Bank now owns 8,435 shares of the utilities provider’s stock valued at $304,000 after buying an additional 5,981 shares during the period. Institutional investors own 62.16% of the company’s stock.
Shares of OGE Energy Corp. (OGE) opened at $32.75 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.76. The company has a market cap of $6,592.27, a price-to-earnings ratio of 17.15, a PEG ratio of 3.77 and a beta of 0.90. OGE Energy Corp. has a 1 year low of $32.60 and a 1 year high of $37.40.
OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). The business had revenue of $716.80 million during the quarter, compared to the consensus estimate of $728.18 million. OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. research analysts forecast that OGE Energy Corp. will post 1.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 4.06%. The ex-dividend date is Tuesday, January 9th. OGE Energy’s dividend payout ratio (DPR) is currently 69.63%.
In other OGE Energy news, VP Patricia D. Horn sold 10,051 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.
OGE has been the subject of several research analyst reports. Wells Fargo & Co cut shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target for the company. in a report on Friday, October 6th. Bank of America initiated coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target for the company. Zacks Investment Research lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd. Edward Jones lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, KeyCorp reissued a “hold” rating on shares of OGE Energy in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.67.
OGE Energy Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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