Everence Capital Management Inc. Buys Shares of 5,730 OGE Energy Corp. (NYSE:OGE)

Everence Capital Management Inc. purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,730 shares of the utilities provider’s stock, valued at approximately $236,000.

A number of other hedge funds also recently modified their holdings of OGE. V Square Quantitative Management LLC bought a new position in OGE Energy during the third quarter valued at $30,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy during the 2nd quarter worth $38,000. Fortitude Family Office LLC purchased a new stake in OGE Energy in the 3rd quarter worth about $63,000. Wilmington Savings Fund Society FSB purchased a new stake in OGE Energy in the 3rd quarter worth about $134,000. Finally, Blue Trust Inc. raised its stake in OGE Energy by 45.1% in the 3rd quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider’s stock valued at $163,000 after acquiring an additional 1,236 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $40.83 on Thursday. The company has a 50 day moving average of $42.07 and a 200 day moving average of $40.08. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.20 billion, a P/E ratio of 21.16, a P/E/G ratio of 3.80 and a beta of 0.77. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.41.

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

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.13%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Barclays lifted their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.50.

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.