Dimensional Fund Advisors LP Raises Stock Position in OGE Energy Corp. (NYSE:OGE)

Dimensional Fund Advisors LP raised its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 31.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,197,585 shares of the utilities provider’s stock after acquiring an additional 531,730 shares during the quarter. Dimensional Fund Advisors LP’s holdings in OGE Energy were worth $78,453,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OGE. Pinnacle Bancorp Inc. grew its position in shares of OGE Energy by 392.8% during the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in OGE Energy in the 2nd quarter worth approximately $35,000. Voisard Asset Management Group Inc. bought a new position in OGE Energy in the 4th quarter worth approximately $36,000. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $53,000 after buying an additional 278 shares in the last quarter. Finally, Gradient Investments LLC bought a new stake in shares of OGE Energy during the second quarter valued at approximately $68,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Trading Down 0.2 %

Shares of OGE stock opened at $40.60 on Friday. The company has a market cap of $8.16 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 3.65 and a beta of 0.74. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $41.48. The stock’s 50 day simple moving average is $39.46 and its two-hundred day simple moving average is $36.58. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company earned $0.44 earnings per share. OGE Energy’s revenue was up 9.5% on a year-over-year basis. Research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be paid a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.15%. OGE Energy’s payout ratio is currently 84.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OGE. Evercore ISI upped their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Barclays increased their price target on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.86.

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.