Paloma Partners Management Co Acquires Shares of 33,161 OGE Energy Corp. (NYSE:OGE)

Paloma Partners Management Co acquired a new stake in shares of OGE Energy Corp. (NYSE:OGE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,161 shares of the utilities provider’s stock, valued at approximately $1,137,000.

Several other institutional investors have also bought and sold shares of the business. HB Wealth Management LLC purchased a new stake in shares of OGE Energy in the fourth quarter valued at $231,000. Raymond James & Associates increased its stake in OGE Energy by 63.6% in the 4th quarter. Raymond James & Associates now owns 186,784 shares of the utilities provider’s stock worth $6,524,000 after buying an additional 72,632 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in OGE Energy by 4.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 46,663 shares of the utilities provider’s stock worth $1,630,000 after buying an additional 1,849 shares during the period. Pacer Advisors Inc. increased its stake in OGE Energy by 126.4% in the 4th quarter. Pacer Advisors Inc. now owns 37,968 shares of the utilities provider’s stock worth $1,326,000 after buying an additional 21,201 shares during the period. Finally, Autumn Glory Partners LLC increased its stake in OGE Energy by 7.6% in the 4th quarter. Autumn Glory Partners LLC now owns 65,313 shares of the utilities provider’s stock worth $2,202,000 after buying an additional 4,634 shares during the period. Institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

OGE has been the topic of a number of research reports. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Barclays raised their target price on shares of OGE Energy from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 18th. Finally, Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, OGE Energy has an average rating of “Hold” and a consensus price target of $33.60.

OGE Energy Stock Performance

NYSE OGE traded up $0.01 on Monday, hitting $38.34. 741,787 shares of the company’s stock traded hands, compared to its average volume of 1,437,371. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $7.69 billion, a PE ratio of 19.46, a P/E/G ratio of 3.59 and a beta of 0.74. The firm’s 50-day moving average price is $36.02 and its two-hundred day moving average price is $34.63. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $38.52.

OGE Energy (NYSE:OGE) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). The firm had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. OGE Energy’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. As a group, analysts expect that OGE Energy Corp. will post 2.13 EPS for the current year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 8th were issued a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Monday, July 8th. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

About OGE Energy

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.