Traders Buy OGE Energy (OGE) on Weakness
Traders bought shares of OGE Energy Corp. (NYSE:OGE) on weakness during trading on Wednesday. $20.28 million flowed into the stock on the tick-up and $6.33 million flowed out of the stock on the tick-down, for a money net flow of $13.95 million into the stock. Of all companies tracked, OGE Energy had the 32nd highest net in-flow for the day. OGE Energy traded down ($0.12) for the day and closed at $42.79
Several equities analysts have recently commented on OGE shares. Barclays set a $37.00 price target on shares of OGE Energy and gave the company a “sell” rating in a report on Saturday, November 17th. Guggenheim cut shares of 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. Bank of America cut shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a report on Tuesday, November 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Monday, February 18th. One research analyst has 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 an average rating of “Hold” and an average price target of $40.00.
The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 4.18 and a beta of 0.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.43 and a current ratio of 0.64.
The business also recently disclosed 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. The ex-dividend date is Tuesday, April 9th. This represents a $1.46 annualized dividend and a dividend yield of 3.40%. OGE Energy’s payout ratio is 68.87%.
In related news, VP Jerry A. Peace sold 4,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $42.28, for a total value of $169,120.00. Following the sale, the vice president now owns 18,417 shares of the company’s stock, valued at $778,670.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kenneth R. Grant sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $42.20, for a total transaction of $63,300.00. Following the completion of the sale, the vice president now directly owns 10,768 shares in the company, valued at approximately $454,409.60. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Shell Asset Management Co. increased its stake in OGE Energy by 25.4% in the third quarter. Shell Asset Management Co. now owns 97,993 shares of the utilities provider’s stock valued at $3,559,000 after acquiring an additional 19,863 shares during the period. Quantamental Technologies LLC bought a new stake in OGE Energy during the fourth quarter worth about $439,000. DekaBank Deutsche Girozentrale grew its stake in OGE Energy by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 110,243 shares of the utilities provider’s stock worth $4,103,000 after buying an additional 2,678 shares during the last quarter. Panagora Asset Management Inc. grew its stake in OGE Energy by 2,180.6% during the third quarter. Panagora Asset Management Inc. now owns 508,925 shares of the utilities provider’s stock worth $18,484,000 after buying an additional 486,610 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in OGE Energy by 0.8% during the third quarter. Vanguard Group Inc. now owns 18,631,504 shares of the utilities provider’s stock worth $676,696,000 after buying an additional 146,931 shares during the last quarter. 68.19% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This report was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://theolympiareport.com/2019/03/15/traders-buy-oge-energy-oge-on-weakness.html.
About OGE Energy (NYSE:OGE)
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.
Recommended Story: Different Options Trading Strategies
Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.