Hotchkis & Wiley Capital Management LLC Buys 154,000 Shares of OGE Energy Corp. (NYSE:OGE)

Hotchkis & Wiley Capital Management LLC lifted its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 34.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 605,590 shares of the utilities provider's stock after buying an additional 154,000 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.30% of OGE Energy worth $24,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in OGE Energy during the 2nd quarter valued at $619,000. Wedge Capital Management L L P NC lifted its stake in OGE Energy by 6.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider's stock valued at $13,960,000 after acquiring an additional 22,899 shares in the last quarter. Cetera Investment Advisers lifted its stake in 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 in the last quarter. Cetera Advisors LLC lifted its stake in OGE Energy by 207.4% during the 1st quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider's stock valued at $763,000 after acquiring an additional 15,017 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new position in OGE Energy during the 3rd quarter valued at $785,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of NYSE OGE traded up $0.17 during midday trading on Wednesday, hitting $43.00. 776,831 shares of the company's stock were exchanged, compared to its average volume of 1,280,026. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.41. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 3.86 and a beta of 0.77. The business's fifty day moving average price is $41.62 and its two-hundred day moving average price is $39.07.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS 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 business had revenue of $965.40 million for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. This is an increase 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 dividend on an annualized basis and a yield of 3.92%. OGE Energy's payout ratio is presently 87.05%.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business's stock in a transaction that occurred on 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 sale, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OGE. Barclays lifted their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a "buy" rating and a $46.00 target price for the company. Finally, Evercore ISI lifted their target price on OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $40.50.

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.