Versor Investments LP Acquires Shares of 19,100 OGE Energy Corp. (NYSE:OGE)

Versor Investments LP bought a new position in shares of OGE Energy Corp. (NYSE:OGE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,100 shares of the utilities provider’s stock, valued at approximately $783,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Meritage Portfolio Management increased its position in OGE Energy by 9.4% during the third quarter. Meritage Portfolio Management now owns 10,520 shares of the utilities provider’s stock worth $432,000 after buying an additional 901 shares during the period. Transcendent Capital Group LLC grew its position in shares of 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 acquiring an additional 11,432 shares during the last quarter. Essex Savings Bank acquired a new position in shares of OGE Energy in the 3rd quarter valued at $217,000. Assetmark Inc. raised its position in OGE Energy by 3.1% in the 3rd quarter. Assetmark Inc. now owns 346,357 shares of the utilities provider’s stock valued at $14,208,000 after purchasing an additional 10,475 shares during the last quarter. Finally, Centennial Wealth Advisory LLC boosted its stake in OGE Energy by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 300 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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 price objective on the stock. Barclays upped their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.40.

OGE Energy Stock Performance

Shares of OGE stock opened at $43.32 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.36 and a debt-to-equity ratio of 1.09. The stock has a 50 day simple moving average of $40.69 and a 200-day simple moving average of $38.26. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.09.

OGE Energy (NYSE:OGE) last released its quarterly earnings data 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 return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that OGE Energy Corp. will post 2.15 EPS for the current 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 $0.4213 dividend. The ex-dividend date was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 3.89%. OGE Energy’s dividend payout ratio (DPR) is 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.