Prudential PLC Increases Stake in OGE Energy Corp. (OGE)

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Prudential PLC lifted its holdings in OGE Energy Corp. (NYSE:OGE) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,500 shares of the utilities provider’s stock after purchasing an additional 6,100 shares during the quarter. Prudential PLC’s holdings in OGE Energy were worth $921,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in OGE Energy during the fourth quarter worth $28,000. Vigilant Capital Management LLC acquired a new position in OGE Energy during the fourth quarter worth $39,000. Proficio Capital Partners LLC increased its holdings in OGE Energy by 79.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,110 shares of the utilities provider’s stock worth $44,000 after buying an additional 493 shares during the last quarter. Doyle Wealth Management acquired a new position in OGE Energy during the fourth quarter worth $47,000. Finally, Private Capital Group LLC increased its holdings in OGE Energy by 61.3% during the fourth quarter. Private Capital Group LLC now owns 1,368 shares of the utilities provider’s stock worth $54,000 after buying an additional 520 shares during the last quarter. 68.19% of the stock is currently owned by institutional investors and hedge funds.

NYSE:OGE opened at $43.11 on Friday. OGE Energy Corp. has a one year low of $31.38 and a one year high of $43.16. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 20.33, a P/E/G 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.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, February 21st. The utilities provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. OGE Energy had a net margin of 18.74% and a return on equity of 10.80%. The firm had revenue of $511.80 million for the quarter, compared to the consensus estimate of $490.80 million. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be issued a $0.365 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.46 annualized dividend and a dividend yield of 3.39%. OGE Energy’s dividend payout ratio is currently 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 transaction, the vice president now directly owns 18,417 shares in the company, valued at $778,670.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the vice president now owns 10,768 shares in the company, valued at $454,409.60. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

OGE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Monday, February 18th. Wolfe Research initiated coverage on shares of OGE Energy in a report on Friday. They set a “market perform” rating on the stock. Guggenheim downgraded 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 downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a report on Tuesday, November 27th. They noted that the move was a valuation call. Finally, Barclays set a $37.00 target price on shares of OGE Energy and gave the stock a “sell” rating in a report on Saturday, November 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. OGE Energy has an average rating of “Hold” and a consensus target price of $40.00.

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About OGE Energy

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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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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