OGE Energy Corp. (NYSE:OGE) Shares Purchased by Prospera Private Wealth LLC

Prospera Private Wealth LLC lifted its position in OGE Energy Corp. (NYSE:OGE) by 118.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,133 shares of the utilities provider’s stock after acquiring an additional 26,627 shares during the quarter. Prospera Private Wealth LLC’s holdings in OGE Energy were worth $2,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OGE. V Square Quantitative Management LLC acquired a new stake in shares of OGE Energy during the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in OGE Energy in the second quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new position in shares of OGE Energy in the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC raised its position in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of OGE Energy during the third quarter valued at $63,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

NYSE OGE opened at $43.21 on Wednesday. The company has a 50 day moving average price of $40.97 and a two-hundred day moving average price of $38.53. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.09. The stock has a market capitalization of $8.68 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) 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 business had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.90%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OGE. Jefferies Financial Group assumed coverage on OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. 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, Barclays upped their price target on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.40.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

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.