11,467 Shares of OGE Energy Corporation $OGE Acquired by MBL Wealth LLC

MBL Wealth LLC acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,467 shares of the utilities provider’s stock, valued at approximately $521,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in OGE Energy in the second quarter valued at approximately $1,277,554,000. Bank of New York Mellon Corp acquired a new position in shares of OGE Energy during the second quarter worth $102,382,000. Energy Income Partners LLC acquired a new position in shares of OGE Energy during the second quarter worth $99,016,000. The Manufacturers Life Insurance Company purchased a new position in shares of OGE Energy in the second quarter valued at $56,300,000. Finally, Caisse de depot et placement du Quebec purchased a new position in shares of OGE Energy in the second quarter valued at $45,974,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Morgan Stanley upped their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $50.00 to $54.00 in a research note on Wednesday, September 2nd. Barclays restated an “equal weight” rating and set a $48.00 target price (down from $52.00) on shares of OGE Energy in a research note on Monday, October 19th. Finally, Wells Fargo & Company lifted their target price on OGE Energy from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus target price of $49.00.

OGE Energy Stock Performance

OGE Energy stock opened at $48.42 on Friday. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The stock has a market cap of $10.00 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 3.15 and a beta of 0.50. The stock has a 50 day moving average of $46.31 and a 200-day moving average of $47.39.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, analysts expect that OGE Energy Corporation will post 2.45 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be given a dividend of $0.4288 per share. The ex-dividend date of this dividend is Monday, October 5th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a dividend yield of 3.5%. OGE Energy’s dividend payout ratio is 75.77%.

Insider Activity at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the transaction, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. This trade represents a 13.83% 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 link. Insiders own 0.57% of the company’s stock.

OGE Energy Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.