OGE Energy Corp. (NYSE:OGE) Shares Bought by Algert Global LLC

Algert Global LLC grew its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,102 shares of the utilities provider's stock after purchasing an additional 20,178 shares during the quarter. Algert Global LLC owned about 0.10% of OGE Energy worth $7,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp raised its position in shares of OGE Energy by 13.8% in the 2nd quarter. Mackenzie Financial Corp now owns 15,623 shares of the utilities provider's stock valued at $558,000 after purchasing an additional 1,891 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of OGE Energy during the second quarter worth $299,000. ClearBridge Investments Ltd grew its holdings in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider's stock valued at $208,103,000 after buying an additional 150,797 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of OGE Energy by 8.2% during the second quarter. Bank of Montreal Can now owns 28,186 shares of the utilities provider's stock valued at $1,007,000 after buying an additional 2,137 shares during the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of OGE Energy in the 2nd quarter valued at $347,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OGE shares. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Barclays increased their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, August 12th. Finally, Evercore ISI boosted their target price 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. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, OGE Energy has an average rating of "Hold" and a consensus target price of $36.86.

OGE Energy Stock Performance

Shares of OGE traded up $0.18 during trading hours on Monday, hitting $41.02. The stock had a trading volume of 1,036,288 shares, compared to its average volume of 1,333,649. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.63 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. The firm has a 50-day moving average price of $39.54 and a 200 day moving average price of $36.66. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $41.48.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. During the same period in the prior year, the company posted $0.44 EPS. The company's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be issued a $0.4213 dividend. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy's dividend payout ratio (DPR) is presently 84.77%.

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.