Quest Partners LLC Buys Shares of 42,518 OGE Energy Corp. (NYSE:OGE)

Quest Partners LLC purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 42,518 shares of the utilities provider’s stock, valued at approximately $1,744,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in OGE Energy during the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy in the second quarter valued at $35,000. Kimelman & Baird LLC bought a new position in OGE Energy during the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $53,000 after buying an additional 278 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in shares of OGE Energy in the third quarter valued at about $63,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on OGE. Evercore ISI upped their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Barclays upped their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.40.

OGE Energy Stock Performance

Shares of OGE stock opened at $43.07 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.09. The firm has a 50 day moving average of $40.85 and a 200-day moving average of $38.42. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share 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%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts forecast that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 3.91%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is presently 87.05%.

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.