15,590 Shares in OGE Energy Corporation $OGE Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC recently acquired 15,590 shares of OGE Energy Corporation, valuing their investment at approximately $692,000, as reported in a recent SEC filing.
• OGE Energy has increased its quarterly dividend from $0.42 to $0.425 per share, representing an annualized dividend of $1.70 and a yield of 3.7%.
• Analysts have mixed opinions on OGE Energy, with UBS raising its price target to $47.00 and a consensus rating of "Moderate Buy" among equity research analysts.

Sequoia Financial Advisors LLC purchased a new position in OGE Energy Corporation (NYSE:OGE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,590 shares of the utilities provider's stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. GAMMA Investing LLC lifted its stake in OGE Energy by 27.5% in the first quarter. GAMMA Investing LLC now owns 6,992 shares of the utilities provider's stock worth $321,000 after acquiring an additional 1,509 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in OGE Energy by 19.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock valued at $1,421,000 after buying an additional 5,043 shares during the period. Sowell Financial Services LLC purchased a new position in OGE Energy during the first quarter valued at $305,000. Johnson Investment Counsel Inc. lifted its position in OGE Energy by 60.2% during the first quarter. Johnson Investment Counsel Inc. now owns 10,721 shares of the utilities provider's stock valued at $493,000 after buying an additional 4,030 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in OGE Energy by 6.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock valued at $241,000 after buying an additional 307 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OGE. UBS Group raised their price objective on OGE Energy from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Weiss Ratings reissued a "buy (b)" rating on shares of OGE Energy in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

OGE Energy Price Performance

NYSE OGE opened at $46.47 on Monday. OGE Energy Corporation has a one year low of $39.10 and a one year high of $47.33. The stock has a 50-day moving average of $45.09 and a 200 day moving average of $44.65. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The business had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. OGE Energy's quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $0.425 per share. This is a boost from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. OGE Energy's dividend payout ratio is presently 69.67%.

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.

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