Jupiter Asset Management Ltd. grew its holdings in OGE Energy Corp. (NYSE:OGE – Get Rating) by 168.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 462,737 shares of the utilities provider's stock after purchasing an additional 290,422 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.23% of OGE Energy worth $16,872,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. National Bank of Canada FI acquired a new stake in OGE Energy in the second quarter worth about $27,000. CoreCap Advisors LLC acquired a new stake in OGE Energy in the second quarter worth about $27,000. Private Trust Co. NA acquired a new stake in OGE Energy in the second quarter worth about $31,000. Total Clarity Wealth Management Inc. acquired a new stake in OGE Energy in the second quarter worth about $36,000. Finally, Ten Capital Wealth Advisors LLC acquired a new stake in OGE Energy in the third quarter worth about $42,000. Institutional investors and hedge funds own 67.78% of the company's stock.
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OGE Energy Stock Up 1.6 %
Shares of OGE Energy stock opened at $38.48 on Friday. OGE Energy Corp. has a 1 year low of $33.28 and a 1 year high of $42.91. The business has a 50-day moving average of $39.44 and a two-hundred day moving average of $39.21. The company has a market capitalization of $7.70 billion, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 3.71 and a beta of 0.70. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.78.
OGE Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Monday, January 9th were issued a $0.414 dividend. The ex-dividend date of this dividend was Friday, January 6th. This represents a $1.66 annualized dividend and a dividend yield of 4.30%. OGE Energy's dividend payout ratio (DPR) is currently 35.70%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Guggenheim cut OGE Energy from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $39.00 to $40.00 in a research note on Monday, January 23rd. StockNews.com downgraded OGE Energy from a "buy" rating to a "hold" rating in a report on Monday, January 23rd. Wells Fargo & Company upped their price objective on OGE Energy to $42.00 in a report on Wednesday, December 14th. Finally, Credit Suisse Group dropped their price objective on OGE Energy to $36.00 in a report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $38.60.
OGE Energy Profile
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OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.
Further Reading
- Get a free copy of the StockNews.com research report on OGE Energy (OGE)
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