Navellier & Associates Inc. Acquires New Shares in OGE Energy Corp. (NYSE:OGE)

Navellier & Associates Inc. purchased a new position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 19,128 shares of the utilities provider's stock, valued at approximately $785,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC bought a new stake in shares of OGE Energy in the 1st quarter valued at about $217,000. Natixis bought a new stake in shares of OGE Energy in the 1st quarter valued at about $1,677,000. Advisors Asset Management Inc. raised its holdings in shares of OGE Energy by 6.6% in the 1st quarter. Advisors Asset Management Inc. now owns 181,492 shares of the utilities provider's stock valued at $6,225,000 after purchasing an additional 11,212 shares during the period. PEAK6 Investments LLC bought a new position in OGE Energy in the 1st quarter valued at about $395,000. Finally, Alpine Global Management LLC bought a new position in OGE Energy in the 1st quarter valued at about $449,000. 71.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price target on the stock. Evercore ISI increased their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a report on Thursday, August 8th. Finally, Barclays increased their price target on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.40.

Insider Buying and Selling

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

OGE Energy Stock Performance

Shares of NYSE:OGE remained flat at $43.82 on Friday. 1,228,374 shares of the company's stock were exchanged, compared to its average volume of 1,292,791. The company's fifty day moving average price is $41.11 and its two-hundred day moving average price is $38.60. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.33. The firm has a market cap of $8.80 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74. 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 (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.85%. OGE Energy's dividend payout ratio (DPR) is currently 87.05%.

OGE Energy Company 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.