Quantbot Technologies LP Invests $849,000 in OGE Energy Corp. (NYSE:OGE)

Quantbot Technologies LP purchased a new position in OGE Energy Corp. (NYSE:OGE) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,749 shares of the utilities provider’s stock, valued at approximately $849,000.

A number of other institutional investors also recently bought and sold shares of OGE. Boston Partners purchased a new stake in shares of OGE Energy in the 4th quarter valued at $128,381,000. Thompson Siegel & Walmsley LLC lifted its position in OGE Energy by 3.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,177,388 shares of the utilities provider’s stock valued at $110,986,000 after purchasing an additional 93,916 shares during the period. Franklin Resources Inc. boosted its holdings in OGE Energy by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 59,329 shares during the last quarter. Dimensional Fund Advisors LP grew its position in OGE Energy by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock worth $49,589,000 after purchasing an additional 144,487 shares during the period. Finally, Norges Bank acquired a new stake in OGE Energy during the 4th quarter worth about $49,274,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

NYSE:OGE opened at $36.71 on Monday. The firm has a market cap of $7.36 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 3.45 and a beta of 0.74. The stock has a 50 day moving average of $35.81 and a two-hundred day moving average of $34.46. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $37.30. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The firm had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $607.37 million. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be given a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s dividend payout ratio is presently 84.77%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays upped their target price on OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 18th. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.60.

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.