Plan Group Financial LLC Acquires Shares of 5,517 OGE Energy Corp. (NYSE:OGE)

Plan Group Financial LLC acquired a new stake in OGE Energy Corp. (NYSE:OGE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,517 shares of the utilities provider’s stock, valued at approximately $226,000.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in OGE Energy in the 3rd quarter valued at $30,000. Pinnacle Bancorp Inc. lifted its position in shares of OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of OGE Energy during the 2nd quarter valued at $35,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the 2nd quarter valued at $38,000. Finally, Allspring Global Investments Holdings LLC lifted its position 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 valued at $53,000 after buying an additional 278 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

NYSE:OGE opened at $40.72 on Wednesday. The business’s 50-day moving average price is $40.16 and its two-hundred day moving average price is $37.45. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $41.48. The stock has a market cap of $8.18 billion, a P/E ratio of 19.96, a PEG ratio of 3.67 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter last year, the firm posted $0.44 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, equities 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 will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 4.14%. OGE Energy’s dividend payout ratio is 82.35%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed 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 increased their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Evercore ISI increased their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.