OGE Energy (NYSE:OGE) announced its quarterly earnings data on Thursday. The utilities provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.94 by $0.08, MarketWatch Earnings reports. OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The business had revenue of $698.80 million during the quarter, compared to analysts’ expectations of $745.58 million. During the same period in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. OGE Energy updated its FY18 guidance to $2.05-2.09 EPS.
NYSE:OGE opened at $37.70 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 0.64. The company has a market cap of $7.43 billion, a PE ratio of 18.24, a PEG ratio of 3.55 and a beta of 0.54. OGE Energy has a 1-year low of $29.59 and a 1-year high of $38.13.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th were issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.87%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, October 9th. OGE Energy’s payout ratio is 76.04%.
Several research firms have recently weighed in on OGE. Barclays began coverage on shares of OGE Energy in a report on Monday, October 22nd. They set a “sell” rating and a $36.00 target price for the company. UBS Group lifted their target price on shares of OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Finally, Zacks Investment Research raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. OGE Energy currently has an average rating of “Hold” and an average target price of $36.50.
In other news, VP Jerry A. Peace sold 2,513 shares of OGE Energy stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total transaction of $92,252.23. Following the completion of the transaction, the vice president now directly owns 11,125 shares of the company’s stock, valued at approximately $408,398.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.44% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of OGE Energy by 16.8% during the first quarter. Dimensional Fund Advisors LP now owns 702,711 shares of the utilities provider’s stock worth $23,028,000 after buying an additional 101,318 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of OGE Energy by 37.5% during the first quarter. Royal Bank of Canada now owns 171,383 shares of the utilities provider’s stock worth $5,617,000 after buying an additional 46,762 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of OGE Energy by 3.9% during the first quarter. Principal Financial Group Inc. now owns 911,889 shares of the utilities provider’s stock worth $29,882,000 after buying an additional 34,313 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of OGE Energy by 8.1% during the second quarter. DnB Asset Management AS now owns 29,424 shares of the utilities provider’s stock worth $1,036,000 after buying an additional 2,200 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of OGE Energy by 23.7% during the second quarter. IFM Investors Pty Ltd now owns 9,578 shares of the utilities provider’s stock worth $337,000 after buying an additional 1,838 shares in the last quarter. 61.16% of the stock is owned by institutional investors.
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About OGE Energy
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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