American Century Companies Inc. Purchases 2,705 Shares of OGE Energy Corp. (NYSE:OGE)

American Century Companies Inc. lifted its position in OGE Energy Corp. (NYSE:OGE) by 4.4% during the 2nd quarter, Holdings Channel reports. The firm owned 64,034 shares of the utilities provider’s stock after acquiring an additional 2,705 shares during the period. American Century Companies Inc.’s holdings in OGE Energy were worth $2,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in OGE. Corient Private Wealth LLC bought a new position in shares of OGE Energy in the fourth quarter worth approximately $491,000. US Bancorp DE grew its holdings in shares of OGE Energy by 9.9% in the fourth quarter. US Bancorp DE now owns 24,434 shares of the utilities provider’s stock worth $853,000 after purchasing an additional 2,197 shares during the last quarter. TD Asset Management Inc bought a new position in shares of OGE Energy in the fourth quarter worth approximately $1,965,000. Treasurer of the State of North Carolina grew its holdings in shares of OGE Energy by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 91,491 shares of the utilities provider’s stock worth $3,196,000 after purchasing an additional 885 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in shares of OGE Energy by 29,761.5% in the fourth quarter. TFO Wealth Partners LLC now owns 3,882 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 3,869 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $40.84 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $8.19 billion, a P/E ratio of 20.73, a P/E/G ratio of 3.65 and a beta of 0.74. The business has a fifty day simple moving average of $39.54 and a two-hundred day simple moving average of $36.62. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $41.48.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 85.28%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OGE. Barclays lifted their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Evercore ISI lifted their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.86.

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.