GAMMA Investing LLC Acquires 1,093 Shares of OGE Energy Corp. (NYSE:OGE)

GAMMA Investing LLC lifted its holdings in OGE Energy Corp. (NYSE:OGE) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,483 shares of the utilities provider’s stock after buying an additional 1,093 shares during the period. GAMMA Investing LLC’s holdings in OGE Energy were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OGE. V Square Quantitative Management LLC bought a new stake in OGE Energy during the third quarter worth approximately $30,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy in the 2nd quarter worth approximately $38,000. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 278 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in OGE Energy during the 3rd quarter valued at $63,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in OGE Energy in the third quarter worth $134,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Trading Up 0.8 %

Shares of OGE opened at $40.58 on Wednesday. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 3.80 and a beta of 0.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The company has a 50-day moving average of $42.07 and a 200 day moving average of $40.08.

OGE Energy (NYSE:OGE) last announced 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 firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. On average, research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Monday, January 6th. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Wall Street Analyst Weigh In

OGE has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Barclays increased their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the sale, the vice president now owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

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.