Pinnacle Bancorp Inc. Purchases 656 Shares of OGE Energy Corp. (NYSE:OGE)

Pinnacle Bancorp Inc. boosted its position in OGE Energy Corp. (NYSE:OGE) by 392.8% during the 1st quarter, Holdings Channel reports. The fund owned 823 shares of the utilities provider’s stock after buying an additional 656 shares during the period. Pinnacle Bancorp Inc.’s holdings in OGE Energy were worth $28,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its stake in shares of OGE Energy by 20.8% in the third quarter. Kestra Advisory Services LLC now owns 16,061 shares of the utilities provider’s stock worth $535,000 after purchasing an additional 2,765 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of OGE Energy in the third quarter worth approximately $227,000. Envestnet Asset Management Inc. raised its stake in shares of OGE Energy by 19.4% in the third quarter. Envestnet Asset Management Inc. now owns 148,912 shares of the utilities provider’s stock worth $4,963,000 after purchasing an additional 24,202 shares during the last quarter. LPL Financial LLC raised its stake in shares of OGE Energy by 18.1% in the third quarter. LPL Financial LLC now owns 180,255 shares of the utilities provider’s stock worth $6,008,000 after purchasing an additional 27,589 shares during the last quarter. Finally, Mariner LLC increased its position in shares of OGE Energy by 3.4% during the third quarter. Mariner LLC now owns 100,655 shares of the utilities provider’s stock valued at $3,355,000 after acquiring an additional 3,321 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of a number of research analyst reports. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Barclays increased their price target on OGE Energy from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 18th. Finally, StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.60.

OGE Energy Price Performance

Shares of NYSE OGE opened at $35.67 on Friday. The stock has a fifty day simple moving average of $35.57 and a two-hundred day simple moving average of $34.45. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $37.30. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 3.34 and a beta of 0.74. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company had revenue of $596.80 million during the quarter, compared to the consensus estimate of $607.37 million. During the same period in the previous year, the business earned $0.19 earnings per share. OGE Energy’s revenue was up 7.0% on a year-over-year basis. Analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be paid a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s dividend payout ratio is 84.77%.

OGE Energy Company 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.