OGE Energy Corporation $OGE Position Boosted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 274.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,644 shares of the utilities provider’s stock after purchasing an additional 12,935 shares during the period. First Citizens Bank & Trust Co.’s holdings in OGE Energy were worth $783,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of OGE Energy during the 1st quarter valued at about $31,000. First Command Advisory Services Inc. bought a new position in shares of OGE Energy during the 1st quarter valued at about $36,000. Clearstead Trust LLC bought a new position in shares of OGE Energy during the 1st quarter valued at about $42,000. Brooklyn Investment Group boosted its position in shares of OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 798 shares in the last quarter. Finally, Tompkins Financial Corp boosted its position in shares of OGE Energy by 42.9% during the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $46.39 on Friday. OGE Energy Corporation has a one year low of $39.10 and a one year high of $47.33. The company has a 50-day moving average of $45.20 and a two-hundred day moving average of $44.75. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The company had revenue of $741.60 million during the quarter, compared to analysts’ expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.OGE Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts expect 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 will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 6th. OGE Energy’s payout ratio is currently 69.67%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OGE. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Jefferies Financial Group raised their target price on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. UBS Group raised their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Barclays raised their target price on shares of OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.00.

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.