Hennion & Walsh Asset Management Inc. Buys 15,398 Shares of OGE Energy Corporation $OGE

Hennion & Walsh Asset Management Inc. lifted its stake in OGE Energy Corporation (NYSE:OGE) by 51.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,408 shares of the utilities provider’s stock after acquiring an additional 15,398 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in OGE Energy were worth $2,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Centennial Wealth Advisory LLC boosted its holdings in OGE Energy by 4.4% in the third quarter. Centennial Wealth Advisory LLC now owns 12,102 shares of the utilities provider’s stock worth $560,000 after purchasing an additional 507 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of OGE Energy by 13.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 32,895 shares of the utilities provider’s stock valued at $1,522,000 after buying an additional 3,803 shares during the period. Eagle Strategies LLC purchased a new position in shares of OGE Energy in the 3rd quarter worth $213,000. Global Retirement Partners LLC grew its holdings in shares of OGE Energy by 603.7% in the third quarter. Global Retirement Partners LLC now owns 3,047 shares of the utilities provider’s stock worth $141,000 after acquiring an additional 2,614 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of OGE Energy in the third quarter worth $63,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Trading Up 1.3%

Shares of OGE Energy stock opened at $42.71 on Friday. OGE Energy Corporation has a fifty-two week low of $39.41 and a fifty-two week high of $47.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. The company has a market capitalization of $8.60 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.50 and a beta of 0.63. The company has a fifty day moving average of $43.73 and a 200 day moving average of $44.57.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. OGE Energy’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, sell-side analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 5th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, January 5th. OGE Energy’s dividend payout ratio is presently 68.27%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OGE shares. Wall Street Zen downgraded OGE Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Mizuho upped their target price on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Jefferies Financial Group increased their price target on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.38.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.