OGE Energy Corp. (NYSE:OGE) Shares Purchased by M&T Bank Corp

M&T Bank Corp grew its position in shares of OGE Energy Corp. (NYSE:OGE) by 9.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,190 shares of the utilities provider’s stock after purchasing an additional 922 shares during the quarter. M&T Bank Corp’s holdings in OGE Energy were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of OGE Energy during the third quarter worth $30,000. Kimelman & Baird LLC purchased a new position in OGE Energy during the second quarter worth about $38,000. Allspring Global Investments Holdings LLC boosted its stake in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in OGE Energy in the 3rd quarter valued at about $63,000. Finally, Signaturefd LLC increased its stake in shares of OGE Energy by 21.6% during the 2nd quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 452 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OGE shares. Barclays boosted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, OGE Energy has an average rating of “Hold” and a consensus target price of $40.50.

OGE Energy Trading Down 3.0 %

Shares of OGE opened at $40.52 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.41. The stock has a market cap of $8.14 billion, a PE ratio of 20.99, a P/E/G ratio of 3.80 and a beta of 0.77. The stock’s 50-day moving average is $41.89 and its two-hundred day moving average is $39.49.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a yield of 4.16%. OGE Energy’s payout ratio is currently 87.05%.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.