Tectonic Advisors LLC Has $611,000 Stock Holdings in OGE Energy Corporation $OGE

Tectonic Advisors LLC lifted its stake in OGE Energy Corporation (NYSE:OGE) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,765 shares of the utilities provider’s stock after acquiring an additional 272 shares during the quarter. Tectonic Advisors LLC’s holdings in OGE Energy were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. WESPAC Advisors LLC acquired a new position in shares of OGE Energy in the second quarter worth $801,000. Louisiana State Employees Retirement System increased its stake in shares of OGE Energy by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 56,600 shares of the utilities provider’s stock worth $2,512,000 after acquiring an additional 300 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of OGE Energy by 2.4% in the second quarter. QRG Capital Management Inc. now owns 21,329 shares of the utilities provider’s stock worth $947,000 after acquiring an additional 495 shares during the last quarter. Lynx Investment Advisory increased its stake in shares of OGE Energy by 3.7% in the second quarter. Lynx Investment Advisory now owns 24,830 shares of the utilities provider’s stock worth $1,102,000 after acquiring an additional 891 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in OGE Energy by 6.2% in the second quarter. Truist Financial Corp now owns 22,047 shares of the utilities provider’s stock worth $978,000 after purchasing an additional 1,287 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Down 1.1%

OGE stock opened at $45.36 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy Corporation has a 52-week low of $39.10 and a 52-week high of $46.91. The company has a 50-day moving average of $45.00 and a two-hundred day moving average of $44.62. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 3.19 and a beta of 0.59.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.7%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 6th. OGE Energy’s dividend payout ratio (DPR) is currently 69.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, OGE Energy currently has an average rating of “Moderate Buy” and an average target price of $47.00.

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.