AQR Capital Management LLC Has $13.76 Million Stock Holdings in OGE Energy Corp. (NYSE:OGE)

AQR Capital Management LLC trimmed its position in OGE Energy Corp. (NYSE:OGE) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 388,709 shares of the utilities provider’s stock after selling 16,800 shares during the period. AQR Capital Management LLC owned about 0.19% of OGE Energy worth $13,756,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its holdings in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 656 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the 2nd quarter valued at about $35,000. Voisard Asset Management Group Inc. acquired a new stake in shares of OGE Energy during the 4th quarter worth approximately $36,000. Allspring Global Investments Holdings LLC raised its stake 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 during the last quarter. Finally, Gradient Investments LLC acquired a new position in OGE Energy in the second quarter valued at approximately $68,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the topic of a number of analyst reports. Evercore ISI increased their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Barclays boosted their target price on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.86.

OGE Energy Stock Up 0.1 %

NYSE:OGE opened at $41.08 on Wednesday. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $41.48. The stock has a 50-day moving average price of $39.61 and a two-hundred day moving average price of $36.71. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 3.63 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. OGE Energy’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. As a group, equities analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

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.