SG Americas Securities LLC Has $2.58 Million Stake in OGE Energy Corporation $OGE

SG Americas Securities LLC reduced its position in shares of OGE Energy Corporation (NYSE:OGE) by 37.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,202 shares of the utilities provider’s stock after selling 34,288 shares during the quarter. SG Americas Securities LLC’s holdings in OGE Energy were worth $2,583,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sigma Planning Corp purchased a new position in shares of OGE Energy during the first quarter valued at $227,000. Los Angeles Capital Management LLC purchased a new stake in OGE Energy in the 1st quarter worth about $6,980,000. Y Intercept Hong Kong Ltd acquired a new stake in OGE Energy during the 1st quarter worth about $310,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in OGE Energy during the 1st quarter valued at about $1,462,000. Finally, Oak Thistle LLC increased its holdings in shares of OGE Energy by 7.6% in the 1st quarter. Oak Thistle LLC now owns 17,901 shares of the utilities provider’s stock valued at $823,000 after purchasing an additional 1,271 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

OGE has been the subject of several research reports. Barclays raised their price target on shares of OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Mizuho lifted their target price on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Finally, Royal Bank Of Canada upgraded OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, OGE Energy has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

OGE Energy Stock Down 1.2%

OGE Energy stock opened at $44.05 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 1-year low of $39.41 and a 1-year high of $47.33. The firm’s fifty day simple moving average is $45.22 and its 200-day simple moving average is $44.76. The company has a market capitalization of $8.87 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.08 and a beta of 0.60.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is 68.27%.

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.