Wealth Enhancement Advisory Services LLC Buys 1,404 Shares of OGE Energy Corp. (NYSE:OGE)

Wealth Enhancement Advisory Services LLC raised its position in shares of OGE Energy Corp. (NYSE:OGE) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,978 shares of the utilities provider’s stock after purchasing an additional 1,404 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in OGE Energy were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of OGE Energy during the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in OGE Energy in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC purchased a new stake in OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC boosted its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Gradient Investments LLC bought a new stake in shares of OGE Energy in the second quarter valued at approximately $68,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on OGE. Evercore ISI raised their price objective 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. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group started 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. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.40.

OGE Energy Trading Down 0.1 %

OGE Energy stock opened at $42.14 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $42.50. The stock has a market cap of $8.46 billion, a P/E ratio of 21.83, a PEG ratio of 3.55 and a beta of 0.74. The firm’s fifty day moving average price is $40.46 and its 200-day moving average price is $38.01.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. OGE Energy’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 4.00%. 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 payout ratio is currently 87.05%.

OGE Energy Company 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.