Victory Capital Management Inc. Increases Stake in OGE Energy Corp. (NYSE:OGE)

Victory Capital Management Inc. grew its position in OGE Energy Corp. (NYSE:OGE) by 17.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 344,654 shares of the utilities provider’s stock after purchasing an additional 51,437 shares during the quarter. Victory Capital Management Inc.’s holdings in OGE Energy were worth $14,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in OGE Energy in the 2nd quarter worth approximately $619,000. Wedge Capital Management L L P NC lifted its holdings in shares of OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after purchasing an additional 22,899 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of OGE Energy during the first quarter valued at $640,000. Cetera Investment Advisers increased its holdings in OGE Energy by 235.7% in the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock worth $1,989,000 after buying an additional 40,710 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in OGE Energy by 207.4% in the 1st quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider’s stock worth $763,000 after buying an additional 15,017 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI upped their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. 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 objective on the stock. Finally, Barclays lifted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.40.

OGE Energy Trading Up 0.3 %

Shares of OGE Energy stock opened at $43.21 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock has a market capitalization of $8.68 billion, a PE ratio of 22.39, a P/E/G ratio of 3.85 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.09. The company’s fifty day simple moving average is $40.97 and its 200-day simple moving average is $38.53.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The company had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.90%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s dividend payout ratio is currently 87.05%.

Insiders Place Their Bets

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 owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

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.