International Assets Investment Management LLC Purchases 729,579 Shares of OGE Energy Corp. (NYSE:OGE)

International Assets Investment Management LLC boosted its position in OGE Energy Corp. (NYSE:OGE) by 3,834.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 748,608 shares of the utilities provider’s stock after purchasing an additional 729,579 shares during the period. International Assets Investment Management LLC’s holdings in OGE Energy were worth $30,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy during the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in OGE Energy in the second quarter worth $35,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy during the second quarter worth $38,000. Allspring Global Investments Holdings LLC boosted its stake in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 278 shares during the period. Finally, Gradient Investments LLC purchased a new stake in shares of OGE Energy during the second quarter valued at $68,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Up 0.5 %

Shares of NYSE:OGE opened at $40.66 on Tuesday. The company has a market capitalization of $8.17 billion, a PE ratio of 19.93, a P/E/G ratio of 3.61 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $41.48. The business’s fifty day simple moving average is $40.28 and its 200-day simple moving average is $37.65.

OGE Energy (NYSE:OGE) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $837.51 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a $0.4213 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OGE shares. Evercore ISI lifted their price objective 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. Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Barclays lifted 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. Six 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, the stock presently has a consensus rating of “Hold” and an average price target of $39.40.

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.