Quarry LP Takes $212,000 Position in OGE Energy Corp. (NYSE:OGE)

Quarry LP acquired a new stake in shares of OGE Energy Corp. (NYSE:OGE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,178 shares of the utilities provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in OGE Energy in the third quarter valued at about $30,000. Kimelman & Baird LLC bought a new stake in OGE Energy during the second quarter worth approximately $38,000. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $53,000 after purchasing an additional 278 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of OGE Energy in the third quarter valued at approximately $63,000. Finally, Gradient Investments LLC bought a new stake in OGE Energy during the 2nd quarter valued at approximately $68,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OGE shares. Barclays raised their target price 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 lifted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. 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 for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.50.

OGE Energy Price Performance

Shares of NYSE OGE opened at $43.13 on Friday. 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 stock has a market cap of $8.67 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.87 and a beta of 0.77. The firm’s 50-day simple moving average is $41.67 and its 200 day simple moving average is $39.10. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.41.

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). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 3.91%. 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.