Hancock Whitney Corp Takes Position in OGE Energy Corp. (NYSE:OGE)

Hancock Whitney Corp acquired a new stake in OGE Energy Corp. (NYSE:OGE) during the third quarter, HoldingsChannel.com reports. The fund acquired 21,208 shares of the utilities provider’s stock, valued at approximately $870,000.

Several other large investors have also recently bought and sold shares of the business. ClearBridge Investments Ltd boosted its position in shares of OGE Energy by 2.7% during the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after acquiring an additional 150,797 shares in the last quarter. Boston Partners boosted its holdings in OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after purchasing an additional 139,872 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in OGE Energy by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock worth $54,960,000 after purchasing an additional 4,761 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after buying an additional 729,579 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of OGE opened at $44.05 on Wednesday. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.33. The firm has a 50-day simple moving average of $41.22 and a 200-day simple moving average of $38.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86.

OGE Energy (NYSE:OGE) last announced 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). The company had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. On average, equities research analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were paid a $0.4213 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 3.83%. The ex-dividend date was Monday, October 7th. OGE Energy’s payout ratio is currently 87.05%.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction that occurred 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 sale, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OGE has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI boosted their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Company 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.