Hennion & Walsh Asset Management Inc. Buys Shares of 6,107 OGE Energy Corp. (NYSE:OGE)

Hennion & Walsh Asset Management Inc. purchased a new stake in OGE Energy Corp. (NYSE:OGE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,107 shares of the utilities provider’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in OGE Energy during the 3rd quarter valued at about $30,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy in the second quarter valued at approximately $38,000. Fortitude Family Office LLC purchased a new position in shares of OGE Energy during the 3rd quarter worth approximately $63,000. Wilmington Savings Fund Society FSB acquired a new position in shares of OGE Energy during the 3rd quarter worth approximately $134,000. Finally, Blue Trust Inc. lifted its stake in OGE Energy by 45.1% in the 3rd quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider’s stock valued at $163,000 after buying an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OGE. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.00.

OGE Energy Trading Up 1.9 %

Shares of OGE opened at $43.37 on Wednesday. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.41. The stock has a fifty day moving average of $42.07 and a two-hundred day moving average of $40.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The company has a market capitalization of $8.72 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.64 and a beta of 0.77.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts forecast that OGE Energy Corp. will post 2.16 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 3.89%. OGE Energy’s dividend payout ratio is presently 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

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.