Wilmington Savings Fund Society FSB Invests $134,000 in OGE Energy Corp. (NYSE:OGE)

Wilmington Savings Fund Society FSB acquired a new position in OGE Energy Corp. (NYSE:OGE) during the third quarter, HoldingsChannel.com reports. The fund acquired 3,269 shares of the utilities provider’s stock, valued at approximately $134,000.

Several other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in OGE Energy by 3,834.0% in the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after buying an additional 729,579 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in OGE Energy by 31.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares in the last quarter. Verition Fund Management LLC boosted its position in OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after purchasing an additional 265,115 shares during the last quarter. Victory Capital Management Inc. boosted its position in OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after purchasing an additional 194,839 shares during the last quarter. Finally, State Street Corp grew its stake in OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after purchasing an additional 185,069 shares in 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 the firm’s 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 transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OGE shares. Jefferies Financial Group assumed coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. 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 report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.50.

OGE Energy Stock Performance

OGE opened at $40.96 on Friday. 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 $8.23 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 3.80 and a beta of 0.77. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.41. The business has a 50 day moving average of $41.93 and a 200-day moving average of $39.50.

OGE Energy (NYSE:OGE) last announced its quarterly 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 business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 4.11%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

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.