Assenagon Asset Management S.A. Takes $1.15 Million Position in OGE Energy Corp. (OGE)
Assenagon Asset Management S.A. bought a new stake in OGE Energy Corp. (NYSE:OGE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,640 shares of the utilities provider’s stock, valued at approximately $1,149,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Verition Fund Management LLC grew its stake in OGE Energy by 11.3% in the second quarter. Verition Fund Management LLC now owns 13,391 shares of the utilities provider’s stock valued at $471,000 after purchasing an additional 1,364 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in OGE Energy by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 53,900 shares of the utilities provider’s stock valued at $1,898,000 after purchasing an additional 1,500 shares in the last quarter. Twin Capital Management Inc. grew its stake in OGE Energy by 1.1% in the second quarter. Twin Capital Management Inc. now owns 146,140 shares of the utilities provider’s stock valued at $5,146,000 after purchasing an additional 1,590 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in OGE Energy by 8.0% in the second quarter. Glen Harbor Capital Management LLC now owns 21,648 shares of the utilities provider’s stock valued at $762,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Chicago Equity Partners LLC grew its stake in OGE Energy by 5.8% in the second quarter. Chicago Equity Partners LLC now owns 30,500 shares of the utilities provider’s stock valued at $1,074,000 after purchasing an additional 1,670 shares in the last quarter. Hedge funds and other institutional investors own 61.16% of the company’s stock.
OGE has been the topic of a number of recent research reports. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. UBS Group boosted their target price on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Barclays initiated coverage on OGE Energy in a research note on Monday, October 22nd. They issued a “sell” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $36.50.
OGE opened at $38.23 on Friday. The stock has a market cap of $7.48 billion, a PE ratio of 19.91, a P/E/G ratio of 3.57 and a beta of 0.54. OGE Energy Corp. has a 52-week low of $29.59 and a 52-week high of $38.33. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 0.64.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.08. The company had revenue of $698.80 million during the quarter, compared to the consensus estimate of $745.58 million. OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. On average, equities research analysts forecast that OGE Energy Corp. will post 2.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Tuesday, October 9th. This is an increase from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s dividend payout ratio is 76.04%.
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OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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