Laurion Capital Management LP Acquires Shares of 9,078 OGE Energy Corp. (NYSE:OGE)
Laurion Capital Management LP bought a new stake in OGE Energy Corp. (NYSE:OGE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,078 shares of the utilities provider’s stock, valued at approximately $320,000.
Other institutional investors have also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. purchased a new position in OGE Energy during the second quarter worth about $100,000. Sigma Planning Corp purchased a new position in shares of OGE Energy in the 2nd quarter worth about $205,000. BerganKDV Wealth Management LLC purchased a new position in shares of OGE Energy in the 2nd quarter worth about $213,000. Ostrum Asset Management purchased a new position in shares of OGE Energy in the 1st quarter worth about $224,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of OGE Energy in the first quarter valued at about $254,000. 61.51% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on OGE. UBS Group raised their price objective on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a report on Friday, July 20th. ValuEngine raised OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Goldman Sachs Group downgraded OGE Energy from a “buy” rating to a “neutral” rating in a report on Sunday, June 24th. They noted that the move was a valuation call. Finally, Bank of America lifted their target price on OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, June 19th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.60.
OGE traded up $0.11 during trading on Friday, reaching $36.39. 1,315,181 shares of the stock traded hands, compared to its average volume of 1,549,018. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 3.71 and a beta of 0.62. OGE Energy Corp. has a fifty-two week low of $29.59 and a fifty-two week high of $37.98. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64.
OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The company had revenue of $567.00 million during the quarter, compared to analyst estimates of $592.64 million. During the same period in the prior year, the firm earned $0.52 EPS. OGE Energy’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that OGE Energy Corp. will post 2.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.365 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, October 9th. This represents a $1.46 annualized dividend and a yield of 4.01%. OGE Energy’s dividend payout ratio is currently 76.04%.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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