Hancock Whitney Corp Buys Shares of 21,208 OGE Energy Corp. (NYSE:OGE)

Hancock Whitney Corp bought a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,208 shares of the utilities provider's stock, valued at approximately $870,000.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in OGE Energy during the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in OGE Energy during the 2nd quarter valued at $35,000. Kimelman & Baird LLC purchased a new stake in OGE Energy during the 2nd quarter valued at $38,000. Allspring Global Investments Holdings LLC raised its stake 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 valued at $53,000 after buying an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of OGE Energy during the 3rd quarter valued at $63,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Trading Up 0.1 %

OGE stock traded up $0.04 during mid-day trading on Wednesday, reaching $44.08. The company had a trading volume of 650,465 shares, compared to its average volume of 1,288,107. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The company has a market capitalization of $8.86 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The firm has a 50 day moving average of $41.29 and a 200 day moving average of $38.80. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.41.

OGE Energy (NYSE:OGE - Get Free Report) 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 company had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. OGE Energy's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This is an increase 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 3.82%. OGE Energy's dividend payout ratio (DPR) is currently 87.05%.

Insider Activity

In other 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 transaction, 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OGE. Evercore ISI boosted their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 price objective for the company. Finally, Barclays boosted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, OGE Energy has an average rating of "Hold" and a consensus target price of $39.40.

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.