PEAK6 Investments LLC Buys New Stake in OGE Energy Corp. (NYSE:OGE)

PEAK6 Investments LLC purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,097 shares of the utilities provider’s stock, valued at approximately $783,000.

A number of other institutional investors have also modified their holdings of OGE. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of OGE Energy by 5.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,864 shares of the utilities provider’s stock valued at $1,840,000 after purchasing an additional 2,469 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in OGE Energy during the third quarter valued at $1,255,000. Freedom Investment Management Inc. purchased a new position in OGE Energy in the third quarter valued at $945,000. Townsquare Capital LLC raised its position in shares of OGE Energy by 15.0% in the third quarter. Townsquare Capital LLC now owns 12,235 shares of the utilities provider’s stock worth $502,000 after acquiring an additional 1,593 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of OGE Energy by 316.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after acquiring an additional 26,411 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

OGE has been the subject of several recent analyst reports. Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $40.50.

OGE Energy Stock Performance

NYSE OGE opened at $42.84 on Wednesday. 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 market cap of $8.61 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The stock’s 50 day simple moving average is $41.58 and its 200-day simple moving average is $39.05.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.93%. OGE Energy’s dividend payout ratio is 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were 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 directly owns 20,918 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

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.