Fmr LLC Increases Stake in OGE Energy Corp. (NYSE:OGE)

FMR LLC boosted its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558,967 shares of the utilities provider's stock after purchasing an additional 78,164 shares during the quarter. FMR LLC owned about 0.28% of OGE Energy worth $22,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in OGE Energy during the 3rd quarter worth $30,000. Kimelman & Baird LLC purchased a new position in OGE Energy during the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC raised its position 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 buying an additional 278 shares during the last quarter. Fortitude Family Office LLC purchased a new position in OGE Energy during the 3rd quarter worth $63,000. Finally, Gradient Investments LLC purchased a new position in OGE Energy during the 2nd quarter worth $68,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company's stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on OGE shares. Barclays upped their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $40.50.

OGE Energy Price Performance

Shares of NYSE:OGE traded up $0.39 on Tuesday, reaching $42.19. 1,042,016 shares of the company were exchanged, compared to its average volume of 1,273,396. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 3.82 and a beta of 0.77. The company has a 50-day moving average of $41.74 and a 200-day moving average of $39.26.

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 for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a yield of 3.99%. OGE Energy's payout ratio is 87.05%.

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.