Allianz Asset Management GmbH Purchases 365,229 Shares of OGE Energy Corporation $OGE

Key Points

• Allianz Asset Management GmbH increased its holdings in OGE Energy by 39.7% during Q2, acquiring an additional 365,229 shares, bringing its total to 1,284,334 shares worth approximately $56.99 million.
• OGE Energy announced a quarterly dividend increase to $0.425 per share, reflecting a 3.7% yield, with the payout scheduled for October 31st.
• The company reported a Q2 EPS of $0.53, missing estimates by $0.05, while revenues reached $741.60 million, up 11.9% year-over-year.

Allianz Asset Management GmbH grew its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 39.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,284,334 shares of the utilities provider's stock after purchasing an additional 365,229 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.64% of OGE Energy worth $56,999,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of OGE Energy in the first quarter valued at approximately $31,000. First Command Advisory Services Inc. bought a new position in OGE Energy during the first quarter worth $36,000. Clearstead Trust LLC bought a new position in OGE Energy during the first quarter worth $42,000. Brooklyn Investment Group increased its position in OGE Energy by 725.5% during the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after acquiring an additional 798 shares during the period. Finally, Tompkins Financial Corp increased its position in OGE Energy by 42.9% during the second quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider's stock worth $44,000 after acquiring an additional 300 shares during the period. Institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.1%

Shares of OGE Energy stock opened at $46.47 on Friday. The firm has a market capitalization of $9.36 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 3.22 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The company's fifty day moving average price is $45.09 and its two-hundred day moving average price is $44.67. OGE Energy Corporation has a 52-week low of $39.10 and a 52-week high of $47.33.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). The business had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. On average, analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $0.425 dividend. The ex-dividend date is Monday, October 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio is presently 69.67%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a research report on Wednesday, October 8th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Finally, UBS Group boosted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, October 10th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.00.

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.

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