Freedom Investment Management Inc. Makes New Investment in OGE Energy Corp. (NYSE:OGE)

Freedom Investment Management Inc. purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,032 shares of the utilities provider’s stock, valued at approximately $945,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in OGE Energy during the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of OGE Energy during the second quarter worth $35,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy in the second quarter worth $38,000. Allspring Global Investments Holdings LLC increased its holdings in OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 278 shares during the period. Finally, Fortitude Family Office LLC bought a new position in OGE Energy during the 3rd quarter worth $63,000. 71.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OGE. Evercore ISI increased their price target 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. Barclays upped their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Five investment 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 company currently has an average rating of “Hold” and a consensus price target of $40.50.

OGE Energy Trading Up 0.1 %

NYSE OGE opened at $44.08 on Friday. The stock has a market capitalization of $8.86 billion, a P/E ratio of 22.84, a P/E/G ratio of 3.94 and a beta of 0.74. The business has a 50 day simple moving average of $41.36 and a 200 day simple moving average of $38.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.41.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 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 company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $1.20 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.82%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is currently 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 transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.