B. Riley Wealth Advisors Inc. Increases Stock Position in OGE Energy Corp. (NYSE:OGE)

B. Riley Wealth Advisors Inc. increased its holdings in OGE Energy Corp. (NYSE:OGE) by 3.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,579 shares of the utilities provider’s stock after buying an additional 290 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in OGE Energy were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Donoghue Forlines LLC purchased a new stake in shares of OGE Energy during the 1st quarter worth $656,000. Harbor Capital Advisors Inc. purchased a new position in shares of OGE Energy in the 2nd quarter worth approximately $619,000. SG Americas Securities LLC raised its stake in shares of OGE Energy by 2,815.6% during the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after acquiring an additional 116,961 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after acquiring an additional 22,899 shares during the last quarter. Finally, Duality Advisers LP boosted its stake in OGE Energy by 53.1% in the first quarter. Duality Advisers LP now owns 119,914 shares of the utilities provider’s stock valued at $4,113,000 after acquiring an additional 41,584 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of several analyst reports. Barclays increased their price objective on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Evercore ISI upped their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.67.

OGE Energy Trading Down 1.1 %

Shares of NYSE:OGE opened at $39.76 on Tuesday. The business has a 50-day moving average price of $39.88 and a 200-day moving average price of $36.96. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 3.67 and a beta of 0.74. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $41.48. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Equities analysts predict 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 will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a $0.4213 dividend. 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. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.24%. OGE Energy’s dividend payout ratio 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.