OGE Energy Corp. (NYSE:OGE) Holdings Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in shares of OGE Energy Corp. (NYSE:OGE) by 35.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,142 shares of the utilities provider’s stock after purchasing an additional 7,113 shares during the period. Oppenheimer & Co. Inc.’s holdings in OGE Energy were worth $1,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. Blair William & Co. IL grew its position in OGE Energy by 10.0% during the 1st quarter. Blair William & Co. IL now owns 22,581 shares of the utilities provider’s stock worth $775,000 after purchasing an additional 2,052 shares in the last quarter. Edgestream Partners L.P. purchased a new position in OGE Energy during the 1st quarter worth approximately $640,000. O Shaughnessy Asset Management LLC purchased a new position in OGE Energy during the 1st quarter worth approximately $217,000. Natixis acquired a new stake in shares of OGE Energy during the 1st quarter valued at $1,677,000. Finally, MQS Management LLC boosted its stake in shares of OGE Energy by 22.1% during the 1st quarter. MQS Management LLC now owns 9,238 shares of the utilities provider’s stock valued at $317,000 after buying an additional 1,672 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

OGE Energy Stock Up 0.7 %

OGE stock opened at $43.07 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.09. The company has a fifty day simple moving average of $40.85 and a 200 day simple moving average of $38.42. The firm has a market cap of $8.65 billion, a PE ratio of 22.32, a PEG ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.91%. OGE Energy’s payout ratio is currently 87.05%.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction 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 $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

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.