Townsquare Capital LLC Buys 1,593 Shares of OGE Energy Corp. (NYSE:OGE)

Townsquare Capital LLC grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,235 shares of the utilities provider’s stock after buying an additional 1,593 shares during the period. Townsquare Capital LLC’s holdings in OGE Energy were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy during the third quarter valued at approximately $30,000. Kimelman & Baird LLC bought a new stake in OGE Energy in the 2nd quarter worth approximately $38,000. Allspring Global Investments Holdings LLC increased its stake in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares during the last quarter. Fortitude Family Office LLC bought a new stake in OGE Energy in the 3rd quarter worth approximately $63,000. Finally, Gradient Investments LLC bought a new stake in OGE Energy in the 2nd quarter worth approximately $68,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE Energy stock opened at $43.00 on Thursday. 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 firm has a market capitalization of $8.64 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The company’s 50-day moving average is $41.62 and its 200 day moving average is $39.07.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a dividend of $0.4213 per share. 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 dividend yield of 3.92%. The ex-dividend date was Monday, October 7th. OGE Energy’s payout ratio is currently 87.05%.

Analyst Ratings Changes

A number of research firms have issued reports on OGE. Evercore ISI lifted their price objective 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. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Insider Transactions at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’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 directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.