Global Assets Advisory LLC Invests $515,000 in OGE Energy Corp. (NYSE:OGE)

Global Assets Advisory LLC acquired a new stake in OGE Energy Corp. (NYSE:OGE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 15,011 shares of the utilities provider’s stock, valued at approximately $515,000.

Several other hedge funds have also recently bought and sold shares of OGE. EverSource Wealth Advisors LLC grew its position in shares of OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in OGE Energy in the 4th quarter worth $36,000. Advantage Trust Co bought a new position in shares of OGE Energy during the 4th quarter worth about $49,000. Headlands Technologies LLC raised its position in shares of OGE Energy by 441.9% during the fourth quarter. Headlands Technologies LLC now owns 1,436 shares of the utilities provider’s stock valued at $50,000 after buying an additional 1,171 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of OGE Energy in the fourth quarter valued at about $66,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the subject of a number of recent research reports. Argus lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Barclays increased their price target on shares of OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 18th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.60.

OGE Energy Stock Up 0.9 %

Shares of OGE Energy stock opened at $35.58 on Friday. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $37.30. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. The company has a market capitalization of $7.14 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 3.31 and a beta of 0.74. The business has a 50-day moving average of $35.54 and a two-hundred day moving average of $34.45.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). The company had revenue of $596.80 million during the quarter, compared to analyst estimates of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. As a group, equities analysts predict that OGE Energy Corp. will post 2.13 EPS for the current year.

OGE Energy Dividend Announcement

The firm 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 yield of 4.70%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

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.