Prospera Private Wealth LLC Grows Position in OGE Energy Corp. (NYSE:OGE)

Prospera Private Wealth LLC lifted its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 118.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,133 shares of the utilities provider's stock after acquiring an additional 26,627 shares during the period. Prospera Private Wealth LLC's holdings in OGE Energy were worth $2,015,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. ClearBridge Investments Ltd grew its position in shares of OGE Energy by 2.7% in the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider's stock worth $208,103,000 after buying an additional 150,797 shares during the last quarter. Boston Partners lifted its holdings in shares of OGE Energy by 3.8% during the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider's stock valued at $130,878,000 after purchasing an additional 139,872 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider's stock worth $78,453,000 after buying an additional 531,730 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider's stock worth $30,708,000 after buying an additional 729,579 shares during the period. Finally, Verity & Verity LLC grew its holdings in shares of OGE Energy by 0.8% during the third quarter. Verity & Verity LLC now owns 516,501 shares of the utilities provider's stock valued at $21,187,000 after buying an additional 3,936 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Finally, Barclays boosted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $39.40.

OGE Energy Price Performance

NYSE:OGE traded down $0.12 during trading hours on Wednesday, reaching $43.05. 192,512 shares of the company were exchanged, compared to its average volume of 1,294,446. 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 twelve month low of $32.06 and a twelve month high of $44.09. The firm has a market cap of $8.65 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74. The stock's 50-day moving average is $40.97 and its 200-day moving average is $38.53.

OGE Energy (NYSE:OGE - Get Free Report) last announced its 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). The business 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 company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS. On average, sell-side analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Monday, October 7th. This is a boost from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio (DPR) is currently 87.05%.

OGE Energy Company 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.