Hudson Bay Capital Management LP Purchases 50,387 Shares of OGE Energy Corporation $OGE

Hudson Bay Capital Management LP raised its holdings in OGE Energy Corporation (NYSE:OGE) by 17.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 339,393 shares of the utilities provider’s stock after acquiring an additional 50,387 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.17% of OGE Energy worth $15,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Morningstar Investment Management LLC acquired a new position in shares of OGE Energy during the second quarter valued at about $391,000. Dynamic Technology Lab Private Ltd bought a new stake in OGE Energy in the 1st quarter valued at about $385,000. Inspire Investing LLC raised its stake in OGE Energy by 100.2% during the 1st quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock worth $1,482,000 after buying an additional 16,141 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in OGE Energy by 274.7% in the second quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock worth $783,000 after acquiring an additional 12,935 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in OGE Energy by 40.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock valued at $1,928,000 after acquiring an additional 12,430 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OGE shares. Jefferies Financial Group increased their target price on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada raised shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Mizuho raised their price target on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Barclays lifted their price target on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, OGE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

OGE Energy Price Performance

Shares of NYSE OGE opened at $42.97 on Monday. The company has a market capitalization of $8.66 billion, a PE ratio of 17.26, a PEG ratio of 2.71 and a beta of 0.61. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average price is $44.95 and its 200-day moving average price is $44.74. OGE Energy Corporation has a twelve month low of $39.41 and a twelve month high of $47.33.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results 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 business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a return on equity of 10.77% and a net margin of 15.28%.The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. On average, equities analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 5th will be given a dividend of $0.425 per share. The ex-dividend date is Monday, January 5th. This represents a $1.70 annualized dividend and a yield of 4.0%. OGE Energy’s dividend payout ratio is presently 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.