Hancock Whitney Corp Purchases New Holdings in OGE Energy Corp. (NYSE:OGE)

Hancock Whitney Corp acquired a new position in shares of OGE Energy Corp. (NYSE:OGE) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 21,208 shares of the utilities provider’s stock, valued at approximately $870,000.

A number of other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of OGE Energy in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy during the 2nd quarter worth $35,000. Kimelman & Baird LLC purchased a new stake in shares of OGE Energy during the second quarter worth $38,000. Allspring Global Investments Holdings LLC grew its holdings in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of OGE Energy in the third quarter valued at about $63,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Up 0.5 %

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

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. As a group, research analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OGE shares. Barclays boosted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Evercore ISI boosted their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, OGE Energy has an average rating of “Hold” and a consensus price target of $39.40.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

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.