Verity & Verity LLC Acquires 3,936 Shares of OGE Energy Corp. (NYSE:OGE)

Verity & Verity LLC boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 516,501 shares of the utilities provider’s stock after buying an additional 3,936 shares during the period. OGE Energy makes up about 2.1% of Verity & Verity LLC’s investment portfolio, making the stock its 14th biggest position. Verity & Verity LLC owned approximately 0.26% of OGE Energy worth $21,187,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its stake in shares of 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 purchasing an additional 729,579 shares during the period. Dimensional Fund Advisors LP lifted its stake in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after buying an additional 531,730 shares during the period. Victory Capital Management Inc. boosted its holdings 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 worth $10,468,000 after buying an additional 194,839 shares during the last quarter. ClearBridge Investments Ltd grew its position in shares of OGE Energy by 2.7% during the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after buying an additional 150,797 shares during the period. Finally, Boston Partners increased its stake in shares of OGE Energy by 3.8% in the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after acquiring an additional 139,872 shares during the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Price Performance

OGE stock opened at $43.07 on Tuesday. The stock has a market cap of $8.65 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74. The stock has a 50-day moving average price of $40.85 and a two-hundred day moving average price of $38.42. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.09. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $1.20 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 3.91%. OGE Energy’s payout ratio is 87.05%.

Insider Transactions at OGE Energy

In other 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 transaction of $214,542.72. Following the sale, the vice president now owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the topic of several recent analyst reports. Barclays lifted their price objective 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. Evercore ISI boosted their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.40.

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.