HighTower Advisors LLC Raises Stock Holdings in OGE Energy Corp. (NYSE:OGE)

HighTower Advisors LLC boosted its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 16.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 54,287 shares of the utilities provider’s stock after purchasing an additional 7,472 shares during the quarter. HighTower Advisors LLC’s holdings in OGE Energy were worth $2,234,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of OGE Energy by 3,834.0% in the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after buying an additional 729,579 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares in the last quarter. Verition Fund Management LLC increased its position in shares of OGE Energy by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after purchasing an additional 265,115 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of OGE Energy by 198.1% in the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after purchasing an additional 194,839 shares in the last quarter. Finally, ClearBridge Investments Ltd lifted its position in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after purchasing an additional 150,797 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE opened at $42.05 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 company’s 50-day moving average price is $41.81 and its 200 day moving average price is $39.34. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.41. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, January 6th. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OGE. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.50.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

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.