Creative Planning Purchases 23,016 Shares of OGE Energy Corp. (NYSE:OGE)

Creative Planning boosted its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 24.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,293 shares of the utilities provider's stock after purchasing an additional 23,016 shares during the quarter. Creative Planning owned 0.06% of OGE Energy worth $4,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OGE. Pinnacle Bancorp Inc. raised its stake in OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider's stock worth $28,000 after purchasing an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy in the 2nd quarter worth about $35,000. Voisard Asset Management Group Inc. acquired a new position in shares of OGE Energy in the 4th quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC raised its position in shares of OGE Energy by 23.1% in 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 in the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of OGE Energy in the 2nd quarter valued at approximately $68,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Price Performance

OGE stock traded down $0.32 during trading on Friday, reaching $40.62. 733,137 shares of the company were exchanged, compared to its average volume of 1,320,398. The company has a 50-day moving average of $39.86 and a two-hundred day moving average of $36.90. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 3.64 and a beta of 0.74. OGE Energy Corp. has a twelve month low of $31.59 and a twelve month high of $41.48. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36.

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

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 4.15%. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy's payout ratio is presently 84.77%.

Analyst Ratings Changes

Several equities analysts have recently commented on OGE shares. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 target price for the company. Barclays boosted their target price on shares of OGE Energy from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report 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. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $37.67.

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.