Barclays PLC Boosts Holdings in OGE Energy Corp. (NYSE:OGE)

Barclays PLC raised its position in OGE Energy Corp. (NYSE:OGE) by 45.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,230 shares of the utilities provider’s stock after purchasing an additional 39,263 shares during the period. Barclays PLC owned 0.06% of OGE Energy worth $5,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in OGE Energy during the third quarter valued at $30,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the second quarter worth about $38,000. Allspring Global Investments Holdings LLC increased its position in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in OGE Energy in the third quarter valued at approximately $63,000. Finally, Signaturefd LLC raised its stake in OGE Energy by 21.6% in the second quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 452 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction dated 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 owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OGE shares. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Barclays increased their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.50.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $41.01 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41. The company has a fifty day moving average of $41.95 and a 200-day moving average of $39.54. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business 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%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. Equities research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 4.11%. OGE Energy’s payout ratio is currently 87.05%.

OGE Energy 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.