M&T Bank Corp Raises Holdings in OGE Energy Corp. (NYSE:OGE)

M&T Bank Corp raised its holdings in OGE Energy Corp. (NYSE:OGE) by 9.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,190 shares of the utilities provider’s stock after purchasing an additional 922 shares during the quarter. M&T Bank Corp’s holdings in OGE Energy were worth $418,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Barclays PLC boosted its stake in OGE Energy by 45.1% during the third quarter. Barclays PLC now owns 126,230 shares of the utilities provider’s stock worth $5,176,000 after buying an additional 39,263 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of OGE Energy during the 3rd quarter worth approximately $580,000. Orion Portfolio Solutions LLC acquired a new stake in OGE Energy in the 3rd quarter valued at approximately $235,000. National Bank of Canada FI purchased a new stake in OGE Energy in the third quarter valued at approximately $4,106,000. Finally, Virtus Investment Advisers Inc. acquired a new position in OGE Energy during the third quarter worth $586,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE stock opened at $40.52 on Thursday. The stock’s 50-day moving average price is $41.89 and its 200 day moving average price is $39.49. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $8.14 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 4.16%. OGE Energy’s payout ratio is currently 87.05%.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OGE has been the topic of several research reports. Barclays increased their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.50.

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.