Synovus Financial Corp Has $791,000 Position in OGE Energy Corp. (NYSE:OGE)

Synovus Financial Corp boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 19.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,291 shares of the utilities provider’s stock after buying an additional 3,197 shares during the period. Synovus Financial Corp’s holdings in OGE Energy were worth $791,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in OGE Energy in the third quarter valued at approximately $30,000. Kimelman & Baird LLC acquired a new stake in OGE Energy in the second quarter worth $38,000. Allspring Global Investments Holdings LLC raised its holdings in OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Fortitude Family Office LLC acquired a new stake in OGE Energy in the third quarter worth $63,000. Finally, Signaturefd LLC raised its holdings in OGE Energy by 21.6% in the second quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock worth $91,000 after purchasing an additional 452 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Barclays increased their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.50.

Insider Buying and Selling

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

OGE Energy Trading Down 0.2 %

Shares of NYSE:OGE opened at $41.78 on Wednesday. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $41.85 and its 200 day simple moving average is $39.45. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.03%. OGE Energy’s payout ratio is 87.05%.

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.