1,056 Shares in OGE Energy Corp. (NYSE:OGE) Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC acquired a new stake in OGE Energy Corp. (NYSE:OGE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,056 shares of the utilities provider’s stock, valued at approximately $38,000.

A number of other large investors also recently bought and sold shares of OGE. Pinnacle Bancorp Inc. raised its stake in shares of OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 656 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in OGE Energy in the second quarter valued at approximately $35,000. Voisard Asset Management Group Inc. acquired a new position in OGE Energy during the fourth quarter worth $36,000. Allspring Global Investments Holdings LLC boosted its position in shares of 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 during the period. Finally, Gradient Investments LLC acquired a new stake in shares of OGE Energy in the second quarter valued at $68,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Up 0.4 %

Shares of NYSE:OGE opened at $41.02 on Tuesday. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $41.48. The firm’s 50 day moving average price is $39.61 and its 200 day moving average price is $36.71. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 3.63 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. As a group, equities research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be issued a $0.4213 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is presently 84.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OGE shares. Barclays raised their target price on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Seven investment 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, the company has an average rating of “Hold” and an average target price of $36.86.

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.