MQS Management LLC Acquires New Shares in OGE Energy Corp. (NYSE:OGE)

MQS Management LLC bought a new position in shares of OGE Energy Corp. (NYSE:OGE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,596 shares of the utilities provider’s stock, valued at approximately $599,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of OGE Energy in the 2nd quarter valued at approximately $619,000. Wedge Capital Management L L P NC boosted its position in shares of OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after purchasing an additional 22,899 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of OGE Energy in the 1st quarter valued at $640,000. Cetera Investment Advisers increased its position in shares of OGE Energy by 235.7% in the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock valued at $1,989,000 after buying an additional 40,710 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in OGE Energy during the 1st quarter worth $509,000. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OGE shares. Barclays boosted their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI increased their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of OGE Energy in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Stock Performance

Shares of OGE stock opened at $43.32 on Wednesday. The firm has a market cap of $8.71 billion, a PE 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. The company’s fifty day simple moving average is $40.69 and its 200-day simple moving average is $38.26. 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 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 firm had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that OGE Energy Corp. will post 2.15 EPS for the current fiscal 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 given a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 3.89%. OGE Energy’s dividend payout ratio is presently 87.05%.

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.