Oppenheimer & Co. Inc. Acquires 7,113 Shares of OGE Energy Corp. (NYSE:OGE)

Oppenheimer & Co. Inc. boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 35.5% during the third quarter, HoldingsChannel.com reports. The fund owned 27,142 shares of the utilities provider’s stock after purchasing an additional 7,113 shares during the period. Oppenheimer & Co. Inc.’s holdings in OGE Energy were worth $1,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MQS Management LLC bought a new stake in OGE Energy in the third quarter valued at about $599,000. Victory Capital Management Inc. grew its stake in OGE Energy by 17.5% during the third quarter. Victory Capital Management Inc. now owns 344,654 shares of the utilities provider’s stock worth $14,138,000 after buying an additional 51,437 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of OGE Energy during the third quarter worth approximately $392,000. Entropy Technologies LP acquired a new stake in shares of OGE Energy during the third quarter worth approximately $1,635,000. Finally, Versor Investments LP acquired a new stake in shares of OGE Energy during the third quarter worth approximately $783,000. Institutional investors own 71.84% of the company’s stock.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays raised their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Price Performance

OGE opened at $43.07 on Tuesday. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.09. 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 company’s 50 day simple moving average is $40.85 and its 200-day simple moving average is $38.42. The stock has a market capitalization of $8.65 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74.

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 the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $1.20 earnings per share. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were paid a $0.4213 dividend. The ex-dividend date of this dividend was 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 yield of 3.91%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

OGE Energy Company 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.