International Assets Investment Management LLC Buys 729,579 Shares of OGE Energy Corp. (NYSE:OGE)

International Assets Investment Management LLC increased its position in OGE Energy Corp. (NYSE:OGE) by 3,834.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 748,608 shares of the utilities provider’s stock after acquiring an additional 729,579 shares during the quarter. International Assets Investment Management LLC owned about 0.37% of OGE Energy worth $30,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. V Square Quantitative Management LLC purchased a new stake in shares of OGE Energy in the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in OGE Energy in the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new stake in OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC lifted its position in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares in the last quarter. Finally, Gradient Investments LLC purchased a new stake in shares of OGE Energy during the second quarter worth about $68,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE stock opened at $40.66 on Tuesday. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48. The firm has a market capitalization of $8.17 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 3.61 and a beta of 0.74. The company has a fifty day simple moving average of $40.28 and a two-hundred day simple moving average of $37.65. 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 released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 4.14%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group initiated coverage on OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Evercore ISI raised their target price 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, Barclays boosted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Six equities 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 company has an average rating of “Hold” and an average target price of $39.40.

About OGE Energy

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.