OGE Energy Corp. (NYSE:OGE) Short Interest Update

OGE Energy Corp. (NYSE:OGE) saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 3,080,000 shares, a drop of 17.9% from the June 15th total of 3,750,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is currently 1.7 days.

A number of institutional investors have recently made changes to their positions in OGE. Envestnet Asset Management Inc. grew its position in shares of OGE Energy by 9.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 79,101 shares of the utilities provider’s stock worth $2,402,000 after buying an additional 7,084 shares during the period. American National Bank purchased a new stake in shares of OGE Energy in the 2nd quarter worth about $121,000. State Street Corp grew its position in shares of OGE Energy by 1.3% in the 1st quarter. State Street Corp now owns 7,672,911 shares of the utilities provider’s stock worth $235,789,000 after buying an additional 99,823 shares during the period. Royal Bank of Canada grew its position in shares of OGE Energy by 19.4% in the 1st quarter. Royal Bank of Canada now owns 1,374,237 shares of the utilities provider’s stock worth $42,231,000 after buying an additional 223,550 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in shares of OGE Energy by 38.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 47,700 shares of the utilities provider’s stock worth $1,466,000 after buying an additional 13,200 shares during the period. Institutional investors and hedge funds own 63.98% of the company’s stock.

NYSE OGE traded down $0.03 during trading hours on Wednesday, reaching $30.79. 1,734,715 shares of the company were exchanged, compared to its average volume of 1,699,641. OGE Energy has a 1 year low of $23.00 and a 1 year high of $46.43. The business’s 50 day simple moving average is $31.26 and its 200-day simple moving average is $36.21. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.11 billion, a P/E ratio of -58.09, a P/E/G ratio of 3.93 and a beta of 0.74.

OGE Energy (NYSE:OGE) last posted its earnings results on Thursday, May 7th. The utilities provider reported ($2.46) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($2.66). The business had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $500.27 million. OGE Energy had a positive return on equity of 10.86% and a negative net margin of 4.85%. OGE Energy’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, sell-side analysts anticipate that OGE Energy will post 2.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Friday, July 10th will be paid a dividend of $0.3875 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.55 annualized dividend and a yield of 5.03%. OGE Energy’s dividend payout ratio is currently 71.76%.

OGE has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of OGE Energy from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research report on Wednesday, March 11th. Barclays dropped their price target on shares of OGE Energy from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Bank of America raised their price target on shares of OGE Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho dropped their price target on shares of OGE Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, UBS Group raised shares of OGE Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.00 to $35.00 in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $33.71.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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