Envestnet Asset Management Inc. Boosts Holdings in OGE Energy Corporation $OGE

Key Points

• Envestnet Asset Management increased its OGE Energy stake by 53.4% in the second quarter, bringing its holdings to 113,351 shares worth approximately $5.5 million. Institutional investors collectively own 71.84% of the company.
• OGE Energy reported quarterly EPS of $0.56, slightly above estimates, while revenue fell 4% year over year to $711.9 million. The company raised its quarterly dividend to $0.4288, implying a 3.8% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $49.73, compared with the stock’s reported price of $45.30.

Envestnet Asset Management Inc. lifted its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 53.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,351 shares of the utilities provider's stock after acquiring an additional 39,446 shares during the period. Envestnet Asset Management Inc. owned approximately 0.05% of OGE Energy worth $5,516,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in OGE Energy in the 2nd quarter valued at $1,277,554,000. State Street Corp grew its holdings in shares of OGE Energy by 2.8% during the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider's stock worth $351,640,000 after purchasing an additional 198,593 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of OGE Energy by 8.3% in the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock worth $266,473,000 after purchasing an additional 479,278 shares during the period. Dimensional Fund Advisors LP increased its position in shares of OGE Energy by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider's stock worth $128,931,000 after purchasing an additional 24,529 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in OGE Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,523,364 shares of the utilities provider's stock valued at $107,748,000 after purchasing an additional 304,100 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

Insider Buying and Selling at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares of the company's stock, valued at approximately $1,869,991.05. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by insiders.

OGE Energy Stock Performance

NYSE:OGE opened at $45.30 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $9.36 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.98 and a beta of 0.50. The company has a fifty day moving average of $46.43 and a 200-day moving average of $47.46. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The company had revenue of $711.90 million for the quarter, compared to analysts' expectations of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.OGE Energy's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. As a group, sell-side analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a $0.4288 dividend. This is a positive change from OGE Energy's previous quarterly dividend of $0.4250. The ex-dividend date is Monday, October 5th. This represents a $1.72 annualized dividend and a yield of 3.8%. OGE Energy's dividend payout ratio (DPR) is 74.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OGE. Scotiabank started coverage on OGE Energy in a report on Tuesday, September 29th. They issued a "sector outperform" rating and a $49.00 target price on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. Barclays upped their price objective on OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, BMO Capital Markets decreased their target price on OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.73.

OGE Energy Profile

OGE Energy Corp. NYSE: OGE is an energy holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), the company provides regulated electric utility services, including the generation, transmission, distribution and retail sale of electricity.

OG&E serves residential, commercial and industrial customers across Oklahoma and western Arkansas. Its operations include a portfolio of power-generation facilities and an electric transmission and distribution network supporting the communities and businesses within its service territory.

OGE Energy traces its utility operations to the founding of Oklahoma Gas and Electric in 1902.

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