CIBC Asset Management Inc Acquires Shares of 5,743 OGE Energy Corp. (NYSE:OGE)

CIBC Asset Management Inc bought a new position in OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,743 shares of the utilities provider’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in OGE. Allspring Global Investments Holdings LLC boosted its position 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 during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of OGE Energy by 3.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock worth $342,000 after purchasing an additional 290 shares during the period. Centennial Wealth Advisory LLC boosted its holdings in shares of OGE Energy by 3.8% during the third quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 300 shares during the period. Fifth Third Bancorp grew its stake in shares of OGE Energy by 3.2% in the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 303 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in OGE Energy by 12.8% during the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 312 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

NYSE OGE opened at $43.82 on Friday. The firm has a market capitalization of $8.80 billion, a PE ratio of 22.87, a P/E/G ratio of 3.88 and a beta of 0.74. The stock’s 50 day moving average is $41.11 and its 200 day moving average is $38.60. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.33. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 EPS. Research analysts forecast 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 issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. 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. OGE Energy’s dividend payout ratio is 87.05%.

Analyst Upgrades and Downgrades

OGE has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Evercore ISI raised their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Barclays boosted their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.40.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company’s stock, 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 SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.