First Citizens Bank & Trust Co. lifted its stake in OGE Energy Corp. (NYSE:OGE) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,887 shares of the utilities provider’s stock after purchasing an additional 601 shares during the period. First Citizens Bank & Trust Co.’s holdings in OGE Energy were worth $237,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in OGE. Nordea Investment Management AB increased its position in shares of OGE Energy by 100.0% during the second quarter. Nordea Investment Management AB now owns 17,960 shares of the utilities provider’s stock worth $540,000 after purchasing an additional 8,980 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of OGE Energy by 48.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,508,364 shares of the utilities provider’s stock worth $45,794,000 after purchasing an additional 493,191 shares during the last quarter. Bank of America Corp DE raised its position in shares of OGE Energy by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 1,326,747 shares of the utilities provider’s stock worth $40,280,000 after purchasing an additional 69,320 shares during the last quarter. TIAA FSB acquired a new position in OGE Energy in the 2nd quarter valued at $843,000. Finally, Two Sigma Investments LP acquired a new position in OGE Energy in the 1st quarter valued at $1,580,000. Hedge funds and other institutional investors own 64.22% of the company’s stock.
Shares of OGE Energy stock opened at $31.56 on Friday. The company has a fifty day moving average price of $30.72 and a 200 day moving average price of $31.24. The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.98. OGE Energy Corp. has a twelve month low of $23.00 and a twelve month high of $46.43. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of -52.60, a price-to-earnings-growth ratio of 4.13 and a beta of 0.72.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 13th will be given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 5.10%. This is a boost from OGE Energy’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, October 9th. OGE Energy’s dividend payout ratio is 74.54%.
Several research analysts have weighed in on the company. UBS Group boosted their price target on OGE Energy from $35.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Mizuho boosted their price target on OGE Energy from $33.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. ValuEngine downgraded OGE Energy from a “hold” rating to a “sell” rating in a report on Monday, October 12th. Wells Fargo & Company upgraded OGE Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $36.00 in a report on Thursday. Finally, Bank of America restated a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of OGE Energy in a report on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. OGE Energy has an average rating of “Buy” and a consensus target price of $34.50.
In other OGE Energy news, VP Kenneth R. Grant sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $33.40, for a total value of $200,400.00. Following the completion of the transaction, the vice president now directly owns 12,082 shares of the company’s stock, valued at approximately $403,538.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.
OGE Energy 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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