OGE Energy Corp. (NYSE:OGE) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 11.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,102 shares of the utilities provider’s stock after buying an additional 20,178 shares during the period. Algert Global LLC’s holdings in OGE Energy were worth $7,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGE. Allspring Global Investments Holdings LLC increased its holdings in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of OGE Energy by 3.2% in the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. lifted its stake in shares of OGE Energy by 12.8% in the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 312 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of OGE Energy by 5.3% during the 2nd quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 352 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in OGE Energy by 3.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

OGE has been the subject of several research reports. Barclays boosted their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Evercore ISI raised their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, OGE Energy has an average rating of “Hold” and an average target price of $36.86.

OGE Energy Price Performance

OGE opened at $40.84 on Monday. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $41.48. 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 cap of $8.20 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.63 and a beta of 0.74. The company has a fifty day simple moving average of $39.54 and a 200 day simple moving average of $36.66.

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

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 7th. OGE Energy’s dividend payout ratio is presently 84.77%.

About OGE Energy

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.