Verity & Verity LLC Raises Position in OGE Energy Corp. (NYSE:OGE)

Verity & Verity LLC boosted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 484,136 shares of the utilities provider’s stock after purchasing an additional 3,568 shares during the period. OGE Energy comprises 2.0% of Verity & Verity LLC’s portfolio, making the stock its 14th largest holding. Verity & Verity LLC owned about 0.24% of OGE Energy worth $17,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its holdings in shares of OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the 2nd quarter worth approximately $35,000. Voisard Asset Management Group Inc. purchased a new position in shares of OGE Energy in the fourth quarter worth approximately $36,000. Kimelman & Baird LLC purchased a new stake in OGE Energy during the second quarter valued at approximately $38,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of 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 acquiring an additional 278 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

OGE has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Barclays upped their price target 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. Finally, Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.86.

OGE Energy Trading Up 0.1 %

Shares of OGE stock opened at $41.08 on Wednesday. The company has a market cap of $8.25 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 3.63 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The stock’s 50 day simple moving average is $39.61 and its two-hundred day simple moving average is $36.71. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $41.48.

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

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 4.10%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

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.