ING Groep NV Invests $3.70 Million in OGE Energy Corp. (NYSE:OGE)

ING Groep NV acquired a new stake in OGE Energy Corp. (NYSE:OGE - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 90,200 shares of the utilities provider's stock, valued at approximately $3,700,000.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in OGE Energy in the third quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in OGE Energy in the 2nd quarter valued at $35,000. Kimelman & Baird LLC acquired a new position in OGE Energy in the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC increased its holdings 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 worth $53,000 after purchasing an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of OGE Energy in the 3rd quarter valued at about $63,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Up 2.4 %

Shares of OGE Energy stock traded up $0.99 on Friday, reaching $42.79. 1,163,609 shares of the company were exchanged, compared to its average volume of 1,326,439. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.09. 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 50-day moving average of $40.85 and a 200 day moving average of $38.42. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (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 firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company posted $1.20 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.94%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio (DPR) is presently 87.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OGE. Barclays upped their price objective 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 raised their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $39.40.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction 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 completion of the transaction, the vice president now directly owns 20,918 shares of the company's stock, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

About OGE Energy

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.