Arrowstreet Capital Limited Partnership Has $16.32 Million Stock Holdings in OGE Energy Corporation $OGE

Arrowstreet Capital Limited Partnership grew its stake in OGE Energy Corporation (NYSE:OGE) by 30.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 367,742 shares of the utilities provider’s stock after buying an additional 85,282 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in OGE Energy were worth $16,320,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of OGE Energy during the 2nd quarter worth $101,421,000. Boston Partners boosted its holdings in OGE Energy by 29.1% during the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider’s stock valued at $248,209,000 after acquiring an additional 1,219,062 shares during the period. Nuveen LLC bought a new stake in OGE Energy during the first quarter valued at about $24,141,000. Goldman Sachs Group Inc. grew its position in shares of OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after purchasing an additional 367,960 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of OGE Energy by 39.7% in the second quarter. Allianz Asset Management GmbH now owns 1,284,334 shares of the utilities provider’s stock worth $56,999,000 after purchasing an additional 365,229 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of OGE stock opened at $42.86 on Tuesday. OGE Energy Corporation has a 52 week low of $39.41 and a 52 week high of $47.33. The stock has a market capitalization of $8.63 billion, a PE ratio of 17.21, a PEG ratio of 2.73 and a beta of 0.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. The stock’s fifty day moving average is $45.19 and its 200-day moving average is $44.78.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. OGE Energy’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. Equities research analysts expect that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 5th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.0%. OGE Energy’s payout ratio is 68.27%.

Wall Street Analyst Weigh In

Several brokerages have commented on OGE. Barclays lifted their price target on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. UBS Group upped their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Jefferies Financial Group raised their price target on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Mizuho boosted their price objective on shares of OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, OGE Energy has a consensus rating of “Moderate Buy” and an average target price of $48.75.

About OGE Energy

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.