Legal & General Group Plc Has $51.20 Million Position in OGE Energy Corporation $OGE

by · The Cerbat Gem

Legal & General Group Plc raised its holdings in shares of OGE Energy Corporation (NYSE:OGE – Free Report) by 2.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,153,592 shares of the utilities provider’s stock after purchasing an additional 29,868 shares during the quarter. Legal & General Group Plc’s holdings in OGE Energy were worth $51,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in OGE Energy by 0.3% during the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider’s stock worth $3,304,000 after buying an additional 250 shares during the last quarter. Tectonic Advisors LLC boosted its position in shares of OGE Energy by 2.0% during the second quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 272 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of OGE Energy by 2.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider’s stock valued at $644,000 after buying an additional 280 shares in the last quarter. Parallel Advisors LLC lifted its holdings in OGE Energy by 3.2% during the second quarter. Parallel Advisors LLC now owns 9,304 shares of the utilities provider’s stock worth $413,000 after acquiring an additional 289 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of OGE Energy by 4.7% in the second quarter. Wedbush Securities Inc. now owns 6,389 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on OGE shares. Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Barclays increased their price objective on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. UBS Group lifted their price target on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group increased their price objective on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.75.

View Our Latest Stock Analysis on OGE Energy

OGE Energy Trading Up 0.2%

Shares of OGE stock opened at $44.85 on Wednesday. OGE Energy Corporation has a 12-month low of $39.41 and a 12-month high of $47.33. The company has a market capitalization of $9.03 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60. The firm has a 50 day moving average price of $45.25 and a two-hundred day moving average price of $44.75. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.86%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $0.425 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, October 6th. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

OGE Energy Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding OGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OGE Energy Corporation (NYSE:OGE – Free Report).