Verition Fund Management LLC Has $54.09 Million Position in OGE Energy Corp. (NYSE:OGE)

Verition Fund Management LLC raised its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 25.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,318,556 shares of the utilities provider's stock after buying an additional 265,115 shares during the period. OGE Energy comprises 0.3% of Verition Fund Management LLC's portfolio, making the stock its 26th biggest position. Verition Fund Management LLC owned about 0.66% of OGE Energy worth $54,087,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the third quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in OGE Energy during the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new position in OGE Energy in the 2nd quarter valued at $38,000. Allspring Global Investments Holdings LLC increased its stake in shares of OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock valued at $53,000 after buying an additional 278 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of OGE Energy during the third quarter worth $63,000. Institutional investors own 71.84% of the company's stock.

Insider Activity at OGE Energy

In other 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 transaction of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by insiders.

OGE Energy Stock Down 0.3 %

OGE stock traded down $0.12 during mid-day trading on Friday, hitting $43.96. 448,102 shares of the company were exchanged, compared to its average volume of 1,284,471. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The firm's 50 day simple moving average is $41.50 and its 200 day simple moving average is $38.93. The firm has a market cap of $8.83 billion, a P/E ratio of 22.78, a P/E/G ratio of 3.98 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS 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 company's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, sell-side analysts predict that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This is an increase from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. OGE Energy's dividend payout ratio (DPR) is presently 87.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OGE. Evercore ISI lifted their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 price target for the company. Finally, Barclays increased their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, OGE Energy has a consensus rating of "Hold" and an average price target of $40.50.

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.