PEAK6 Investments LLC Makes New Investment in OGE Energy Corp. (NYSE:OGE)

PEAK6 Investments LLC bought a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,097 shares of the utilities provider's stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in OGE Energy in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of OGE Energy during the second quarter valued at about $35,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy in the 2nd quarter valued at about $38,000. Allspring Global Investments Holdings LLC raised its stake in shares of 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 acquiring an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in OGE Energy during the third quarter valued at approximately $63,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OGE shares. Barclays upped their target price on OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a "buy" rating and a $46.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.50.

OGE Energy Price Performance

NYSE:OGE traded up $0.08 during trading hours on Wednesday, hitting $42.91. 375,769 shares of the stock were exchanged, compared to its average volume of 1,278,183. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41. The firm's fifty day moving average price is $41.58 and its 200 day moving average price is $39.05. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The company has a market cap of $8.62 billion, a P/E ratio of 22.27, a P/E/G ratio of 3.86 and a beta of 0.77.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million during the quarter, compared to analysts' expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.93%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy's dividend payout ratio is 87.05%.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction on Wednesday, November 13th. The stock was 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 in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

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.