OGE Energy Corporation $OGE Position Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 274.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,644 shares of the utilities provider’s stock after purchasing an additional 12,935 shares during the period. First Citizens Bank & Trust Co.’s holdings in OGE Energy were worth $783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 328 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of OGE Energy during the first quarter worth $385,000. Inspire Investing LLC raised its holdings in shares of OGE Energy by 100.2% during the first quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock worth $1,482,000 after purchasing an additional 16,141 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of OGE Energy by 40.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock worth $1,928,000 after purchasing an additional 12,430 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of OGE Energy by 18,212.6% during the first quarter. Acadian Asset Management LLC now owns 74,349 shares of the utilities provider’s stock worth $3,411,000 after purchasing an additional 73,943 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OGE. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. UBS Group increased their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Jefferies Financial Group increased their price objective on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays increased their price objective on shares of OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, OGE Energy currently has an average rating of “Moderate Buy” and an average price target of $49.00.

OGE Energy Stock Performance

Shares of OGE opened at $46.39 on Friday. The firm has a 50-day moving average price of $45.20 and a 200 day moving average price of $44.75. The firm has a market capitalization of $9.34 billion, a PE ratio of 19.01, a P/E/G ratio of 3.21 and a beta of 0.59. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 52-week low of $39.10 and a 52-week high of $47.33.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The company had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, sell-side analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $0.425 dividend. The ex-dividend date is Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.7%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 69.67%.

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.