Quest Partners LLC Takes Position in OGE Energy Corp. (NYSE:OGE)

Quest Partners LLC bought a new stake in OGE Energy Corp. (NYSE:OGE - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 42,518 shares of the utilities provider's stock, valued at approximately $1,744,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ClearBridge Investments Ltd raised its position in OGE Energy by 2.7% in the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider's stock valued at $208,103,000 after buying an additional 150,797 shares during the last quarter. Boston Partners increased its position 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 worth $130,878,000 after purchasing an additional 139,872 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 531,730 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider's stock worth $30,708,000 after purchasing an additional 729,579 shares during the last quarter. Finally, Verity & Verity LLC increased its position in shares of OGE Energy by 0.7% during the 2nd quarter. Verity & Verity LLC now owns 484,136 shares of the utilities provider's stock worth $17,284,000 after purchasing an additional 3,568 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The stock was 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 in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on OGE. Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 price target on the stock. Barclays boosted their target price on OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Finally, Evercore ISI boosted their price target on OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a research note on Thursday, August 8th. Six research 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, OGE Energy currently has a consensus rating of "Hold" and an average target price of $39.40.

OGE Energy Stock Up 0.2 %

Shares of OGE stock traded up $0.10 during trading hours on Tuesday, reaching $43.17. The company had a trading volume of 1,114,712 shares, compared to its average volume of 1,299,451. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The business has a fifty day simple moving average of $40.85 and a 200-day simple moving average of $38.42. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last issued 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). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.90%. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio is currently 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.