World Investment Advisors LLC Invests $711,000 in OGE Energy Corp. (NYSE:OGE)

World Investment Advisors LLC bought a new stake in OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,337 shares of the utilities provider’s stock, valued at approximately $711,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OGE. State Street Corp boosted its stake in shares of OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after purchasing an additional 185,069 shares during the last quarter. ClearBridge Investments Ltd lifted its holdings in OGE Energy by 2.7% in the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after buying an additional 150,797 shares during the period. Geode Capital Management LLC boosted its position in OGE Energy by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock valued at $137,433,000 after acquiring an additional 40,733 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of OGE Energy by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock worth $54,960,000 after acquiring an additional 4,761 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OGE. Barclays raised their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.50.

OGE Energy Trading Down 0.4 %

Shares of OGE Energy stock opened at $41.88 on Tuesday. The stock has a market capitalization of $8.42 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The stock has a 50 day moving average price of $41.85 and a two-hundred day moving average price of $39.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 4.02%. OGE Energy’s payout ratio is 87.05%.

Insider Buying and Selling at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.