Creative Planning Has $5.05 Million Stake in OGE Energy Corp. (NYSE:OGE)

Creative Planning lifted its position in shares of OGE Energy Corp. (NYSE:OGE) by 5.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,187 shares of the utilities provider’s stock after purchasing an additional 6,894 shares during the quarter. Creative Planning’s holdings in OGE Energy were worth $5,053,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Global Assets Advisory LLC purchased a new stake in OGE Energy in the 1st quarter valued at $515,000. Pinnacle Bancorp Inc. raised its position in OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares during the last quarter. State of Michigan Retirement System raised its position in OGE Energy by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 49,214 shares of the utilities provider’s stock valued at $1,688,000 after buying an additional 1,200 shares during the last quarter. FCG Investment Co raised its position in OGE Energy by 45.3% in the 1st quarter. FCG Investment Co now owns 14,204 shares of the utilities provider’s stock valued at $487,000 after buying an additional 4,429 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in OGE Energy by 22.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 143,451 shares of the utilities provider’s stock valued at $4,920,000 after buying an additional 25,900 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Down 0.1 %

Shares of NYSE:OGE opened at $40.98 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The company has a market capitalization of $8.23 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 3.63 and a beta of 0.74. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $41.48. The business has a fifty day moving average price of $40.23 and a two-hundred day moving average price of $37.50.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. Analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 4.11%. OGE Energy’s dividend payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

OGE has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. 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 report on Thursday, August 8th. Finally, Barclays upped their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.40.

About OGE Energy

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.