OGE Energy Corp. (NYSE:OGE) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,771,011 shares, an increase of 84.7% from the November 30th total of 2,041,236 shares. Based on an average trading volume of 1,159,821 shares, the short-interest ratio is currently 3.3 days. Currently, 1.9% of the shares of the stock are sold short.
In other OGE Energy news, VP Patricia D. Horn sold 10,051 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of OGE Energy by 3.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 366,400 shares of the utilities provider’s stock valued at $12,058,000 after acquiring an additional 12,050 shares in the last quarter. Waverton Investment Management Ltd grew its holdings in shares of OGE Energy by 9.6% in the 4th quarter. Waverton Investment Management Ltd now owns 18,033 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 1,578 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of OGE Energy by 11.1% in the 4th quarter. DnB Asset Management AS now owns 25,124 shares of the utilities provider’s stock valued at $827,000 after acquiring an additional 2,500 shares in the last quarter. Pensionfund Sabic bought a new position in shares of OGE Energy in the 4th quarter valued at about $1,283,000. Finally, Pensionfund DSM Netherlands bought a new position in shares of OGE Energy in the 4th quarter valued at about $2,534,000. Hedge funds and other institutional investors own 62.22% of the company’s stock.
Shares of OGE Energy (OGE) opened at $30.74 on Friday. The company has a market capitalization of $6,240.79, a price-to-earnings ratio of 16.36, a P/E/G ratio of 3.35 and a beta of 0.90. OGE Energy has a 12 month low of $30.70 and a 12 month high of $37.40. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.63.
OGE Energy (NYSE:OGE) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). The firm had revenue of $716.80 million for the quarter, compared to the consensus estimate of $728.18 million. OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. OGE Energy’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. analysts expect that OGE Energy will post 1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Tuesday, January 9th. OGE Energy’s dividend payout ratio (DPR) is presently 69.63%.
Several research analysts have issued reports on OGE shares. Wells Fargo & Co downgraded OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a report on Friday, October 6th. Goldman Sachs Group raised OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday. Bank of America began coverage on OGE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target on the stock. Zacks Investment Research downgraded OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Edward Jones downgraded OGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. OGE Energy currently has an average rating of “Hold” and a consensus price target of $37.17.
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OGE Energy Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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