Victory Capital Management Inc. Purchases 51,437 Shares of OGE Energy Corp. (NYSE:OGE)

Victory Capital Management Inc. increased its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 17.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,654 shares of the utilities provider's stock after purchasing an additional 51,437 shares during the period. Victory Capital Management Inc. owned 0.17% of OGE Energy worth $14,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OGE. GSA Capital Partners LLP acquired a new position in shares of OGE Energy during the third quarter worth about $392,000. Entropy Technologies LP purchased a new position in shares of OGE Energy during the third quarter valued at approximately $1,635,000. Versor Investments LP purchased a new position in shares of OGE Energy during the third quarter valued at approximately $783,000. Meritage Portfolio Management lifted its stake in shares of OGE Energy by 9.4% during the third quarter. Meritage Portfolio Management now owns 10,520 shares of the utilities provider's stock valued at $432,000 after buying an additional 901 shares during the period. Finally, Transcendent Capital Group LLC raised its stake in OGE Energy by 44.6% during the third quarter. Transcendent Capital Group LLC now owns 37,088 shares of the utilities provider's stock worth $1,521,000 after purchasing an additional 11,432 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the company's stock in a transaction that occurred 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 $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

OGE Energy Price Performance

NYSE:OGE traded down $0.06 during mid-day trading on Wednesday, reaching $43.11. 589,551 shares of the company were exchanged, compared to its average volume of 1,296,296. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.09. The company has a fifty day moving average of $41.04 and a 200 day moving average of $38.57. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.66 billion, a PE ratio of 22.34, a PEG ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. On average, research analysts anticipate that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.91%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy's payout ratio is 87.05%.

Wall Street Analysts Forecast Growth

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

OGE Energy 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.