Versor Investments LP Buys New Shares in OGE Energy Corp. (NYSE:OGE)

Versor Investments LP acquired a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,100 shares of the utilities provider's stock, valued at approximately $783,000.

A number of other large investors have also added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC boosted its position in shares of OGE Energy by 3.8% during the first quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider's stock valued at $387,000 after buying an additional 413 shares during the last quarter. QRG Capital Management Inc. bought a new stake in OGE Energy in the 1st quarter worth approximately $509,000. Avantax Advisory Services Inc. boosted its stake in shares of OGE Energy by 12.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 95,762 shares of the utilities provider's stock worth $3,285,000 after buying an additional 10,556 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of OGE Energy in the 1st quarter worth $1,924,000. Finally, SageView Advisory Group LLC bought a new stake in shares of OGE Energy in the first quarter worth $166,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OGE. Barclays lifted 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. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They set a "buy" rating and a $46.00 price target on the stock. Finally, Evercore ISI raised their price target on OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.40.

OGE Energy Trading Down 0.7 %

Shares of NYSE OGE traded down $0.31 during trading hours on Wednesday, reaching $43.01. The stock had a trading volume of 378,241 shares, compared to its average volume of 1,297,221. 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 firm has a market cap of $8.64 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 3.89 and a beta of 0.74. The business's fifty day moving average price is $40.69 and its two-hundred day moving average price is $38.26. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.09.

OGE Energy (NYSE:OGE - Get Free Report) last announced 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 firm 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%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. Analysts expect that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 represents a $1.69 dividend on an annualized basis and a yield of 3.92%. 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%.

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.