Cerity Partners LLC Purchases 3,350 Shares of OGE Energy Corp. (NYSE:OGE)

Cerity Partners LLC boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,496 shares of the utilities provider’s stock after acquiring an additional 3,350 shares during the period. Cerity Partners LLC’s holdings in OGE Energy were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in OGE Energy in the 3rd quarter valued at approximately $30,000. Kimelman & Baird LLC acquired a new position in shares of OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC grew its holdings 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 buying an additional 278 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of OGE Energy during the third quarter valued at about $63,000. Finally, Gradient Investments LLC purchased a new position in OGE Energy in the second quarter worth $68,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Down 1.9 %

Shares of OGE opened at $42.30 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $39.17. The stock has a market capitalization of $8.50 billion, a P/E ratio of 21.92, a PEG ratio of 3.88 and a beta of 0.77. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.41.

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

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 3.98%. OGE Energy’s payout ratio is 87.05%.

Insider Transactions at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’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 completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OGE shares. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.50.

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.