Freedom Investment Management Inc. Buys New Holdings in OGE Energy Corp. (NYSE:OGE)

Freedom Investment Management Inc. bought a new position in OGE Energy Corp. (NYSE:OGE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 23,032 shares of the utilities provider's stock, valued at approximately $945,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in OGE Energy in the second quarter valued at approximately $619,000. Wedge Capital Management L L P NC raised its position in shares of OGE Energy by 6.2% in the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider's stock worth $13,960,000 after buying an additional 22,899 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of OGE Energy by 235.7% during the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider's stock valued at $1,989,000 after acquiring an additional 40,710 shares during the last quarter. Cetera Advisors LLC lifted its position in OGE Energy by 207.4% during the first quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider's stock valued at $763,000 after purchasing an additional 15,017 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in OGE Energy in the third quarter worth $785,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Performance

Shares of NYSE:OGE traded down $0.12 during midday trading on Friday, reaching $43.96. 448,100 shares of the company's stock traded hands, compared to its average volume of 1,284,471. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.41. The stock has a 50 day moving average of $41.44 and a 200 day moving average of $38.88. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 3.98 and a beta of 0.74. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly 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). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.83%. 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%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OGE shares. Jefferies Financial Group started coverage on OGE Energy in a research note on Thursday, September 19th. They issued a "buy" rating and a $46.00 target price on the stock. 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 report on Thursday, August 8th. Finally, Barclays raised their target price 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. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.50.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm'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 transaction, the vice president now owns 20,918 shares of the company's stock, valued at $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 available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.