Envestnet Portfolio Solutions Inc. Increases Stock Position in OGE Energy Corporation $OGE

Key Points

• Envestnet Portfolio Solutions Inc. significantly increased its stake in OGE Energy Corporation by 277.9% during Q2, acquiring a total of 19,805 shares valued at approximately $879,000.
• OGE Energy recently announced a quarterly dividend of $0.425 per share, reflecting a yield of 3.7% and marking a slight increase from the previous dividend of $0.42.
• UBS Group raised its price target for OGE Energy shares from $46.00 to $47.00, with the stock currently holding a consensus rating of "Moderate Buy" among analysts.

Envestnet Portfolio Solutions Inc. grew its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 277.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,805 shares of the utilities provider's stock after acquiring an additional 14,564 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in OGE Energy were worth $879,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new position in shares of OGE Energy in the first quarter worth approximately $31,000. First Command Advisory Services Inc. purchased a new position in shares of OGE Energy in the first quarter worth approximately $36,000. Clearstead Trust LLC purchased a new position in shares of OGE Energy in the first quarter worth approximately $42,000. Brooklyn Investment Group boosted its holdings in shares of OGE Energy by 725.5% in the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after buying an additional 798 shares during the last quarter. Finally, Tompkins Financial Corp boosted its holdings in shares of OGE Energy by 42.9% in the second quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider's stock worth $44,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OGE. UBS Group raised their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of OGE Energy in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.00.

OGE Energy Price Performance

NYSE OGE opened at $46.47 on Monday. OGE Energy Corporation has a 12 month low of $39.10 and a 12 month high of $47.33. The stock has a market cap 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's 50 day moving average is $45.09 and its two-hundred day moving average is $44.65. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

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

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, October 6th. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio (DPR) is 69.67%.

OGE Energy 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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