Inspire Advisors LLC Raises Stock Position in OGE Energy Corp. (NYSE:OGE)

Inspire Advisors LLC lifted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,383 shares of the utilities provider’s stock after buying an additional 1,217 shares during the quarter. Inspire Advisors LLC’s holdings in OGE Energy were worth $2,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in OGE Energy in the third quarter valued at approximately $30,000. B.O.S.S. Retirement Advisors LLC boosted its holdings in OGE Energy by 2.8% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 31,421 shares of the utilities provider’s stock valued at $1,289,000 after purchasing an additional 868 shares in the last quarter. Kapitalo Investimentos Ltda boosted its holdings in OGE Energy by 23.7% in the third quarter. Kapitalo Investimentos Ltda now owns 8,661 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 1,657 shares in the last quarter. Creative Planning boosted its holdings in OGE Energy by 5.9% in the third quarter. Creative Planning now owns 123,187 shares of the utilities provider’s stock valued at $5,053,000 after purchasing an additional 6,894 shares in the last quarter. Finally, JBR Co Financial Management Inc boosted its holdings in OGE Energy by 0.7% in the third quarter. JBR Co Financial Management Inc now owns 73,545 shares of the utilities provider’s stock valued at $3,017,000 after purchasing an additional 525 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Price Performance

Shares of OGE stock traded up $0.26 during mid-day trading on Friday, reaching $40.83. The stock had a trading volume of 128,253 shares, compared to its average volume of 1,293,755. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $41.48. The company has a market cap of $8.19 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.74. The business has a 50-day simple moving average of $40.06 and a 200 day simple moving average of $37.27. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 4.13%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 85.28%.

Analyst Upgrades and Downgrades

OGE has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Evercore ISI increased their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays increased their price objective on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, OGE Energy has an average rating of “Hold” and an average target price of $38.80.

About OGE Energy

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.