B. Riley Wealth Advisors Inc. Boosts Stock Holdings in OGE Energy Corp. (NYSE:OGE)

B. Riley Wealth Advisors Inc. grew its position in OGE Energy Corp. (NYSE:OGE) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,579 shares of the utilities provider’s stock after buying an additional 290 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in OGE Energy were worth $342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OGE. Dimensional Fund Advisors LP lifted its holdings in OGE Energy by 31.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares in the last quarter. Victory Capital Management Inc. boosted its position in OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after acquiring an additional 194,839 shares during the last quarter. ClearBridge Investments Ltd grew its stake in OGE Energy by 2.7% during the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after acquiring an additional 150,797 shares in the last quarter. Boston Partners raised its holdings in OGE Energy by 3.8% in the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after acquiring an additional 139,872 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in OGE Energy by 84.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 294,053 shares of the utilities provider’s stock worth $10,086,000 after purchasing an additional 134,377 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

NYSE:OGE opened at $39.76 on Tuesday. The stock has a market capitalization of $7.99 billion, a P/E ratio of 20.18, a PEG ratio of 3.67 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $41.48. The company has a 50 day moving average price of $39.88 and a 200 day moving average price of $36.96.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. Equities research analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be paid a dividend of $0.4213 per share. The ex-dividend date is Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 4.24%. OGE Energy’s dividend payout ratio is 84.77%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI lifted their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Finally, Barclays raised their target price on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.67.

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.