International Assets Investment Management LLC Boosts Stake in OGE Energy Corp. (NYSE:OGE)

International Assets Investment Management LLC grew its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 3,834.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 748,608 shares of the utilities provider's stock after purchasing an additional 729,579 shares during the quarter. International Assets Investment Management LLC owned approximately 0.37% of OGE Energy worth $30,708,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in OGE Energy in the 3rd quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in OGE Energy in the second quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new position in OGE Energy during 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 during the period. Finally, Gradient Investments LLC bought a new stake in OGE Energy during the 2nd quarter valued at $68,000. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OGE shares. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 target price on the stock. Finally, Evercore ISI upped 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 report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, OGE Energy has an average rating of "Hold" and an average target price of $39.40.

OGE Energy Stock Down 1.5 %

OGE Energy stock traded down $0.62 during trading hours on Tuesday, reaching $40.03. The stock had a trading volume of 988,978 shares, compared to its average volume of 1,280,837. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 3.61 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The business's 50 day moving average price is $40.28 and its 200-day moving average price is $37.65.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The company 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%. OGE Energy's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. Sell-side analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a dividend of $0.4213 per share. 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 4.21%. The ex-dividend date was Monday, October 7th. OGE Energy's dividend payout ratio is currently 82.35%.

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.