Entropy Technologies LP Purchases New Stake in OGE Energy Corp. (NYSE:OGE)

Entropy Technologies LP acquired a new position in OGE Energy Corp. (NYSE:OGE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,862 shares of the utilities provider’s stock, valued at approximately $1,635,000.

Several other institutional investors also recently made changes to their positions in OGE. Concurrent Investment Advisors LLC boosted its holdings in OGE Energy by 3.8% during the first quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock worth $387,000 after buying an additional 413 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of OGE Energy during the 1st quarter worth approximately $509,000. Avantax Advisory Services Inc. increased its stake in OGE Energy by 12.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 95,762 shares of the utilities provider’s stock valued at $3,285,000 after purchasing an additional 10,556 shares in the last quarter. SageView Advisory Group LLC purchased a new position in OGE Energy in the 1st quarter valued at approximately $166,000. Finally, Midwest Professional Planners LTD. raised its holdings in OGE Energy by 22.6% during the first quarter. Midwest Professional Planners LTD. now owns 36,629 shares of the utilities provider’s stock worth $1,256,000 after purchasing an additional 6,745 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

OGE Energy stock opened at $43.32 on Wednesday. The firm’s 50-day moving average is $40.69 and its two-hundred day moving average is $38.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock has a market capitalization of $8.71 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.93 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 issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current 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 paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.89%. This is a positive change 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%.

Analysts Set New Price Targets

OGE has been the subject of a number of research analyst reports. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.40.

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.