Dynamic Technology Lab Private Ltd Takes Position in OGE Energy Corp. (NYSE:OGE)

Dynamic Technology Lab Private Ltd bought a new position in OGE Energy Corp. (NYSE:OGE) in the third quarter, HoldingsChannel reports. The firm bought 14,677 shares of the utilities provider’s stock, valued at approximately $602,000.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in OGE Energy by 3.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after purchasing an additional 290 shares during the last quarter. Centennial Wealth Advisory LLC raised its position in OGE Energy by 3.8% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 300 shares during the period. Fifth Third Bancorp raised its position in OGE Energy by 3.2% in the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 303 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of OGE Energy by 12.8% during the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock valued at $94,000 after buying an additional 312 shares during the period. Institutional investors own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Trading Up 0.1 %

OGE opened at $44.08 on Friday. 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 stock’s fifty day moving average is $41.36 and its two-hundred day moving average is $38.84. The company has a market capitalization of $8.86 billion, a P/E ratio of 22.84, a PEG ratio of 3.94 and a beta of 0.74. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41.

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

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.82%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 87.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OGE shares. Evercore ISI increased their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Barclays increased their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.50.

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.