Inspire Investing LLC Buys 8,149 Shares of OGE Energy Corporation $OGE

Key Points

• Inspire Investing LLC increased its stake in OGE Energy Corporation by 25.3%, acquiring an additional 8,149 shares and bringing its total holdings to 40,396 shares valued at approximately $1.79 million.
• OGE Energy recently declared a quarterly dividend of $0.425 per share, representing a 3.7% yield, which is an increase from the previous $0.42 dividend.
• The company reported earnings of $0.53 EPS for the last quarter, falling short of estimates, but revenue increased 11.9% year-over-year, totaling $741.6 million.

Inspire Investing LLC boosted its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 25.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,396 shares of the utilities provider's stock after purchasing an additional 8,149 shares during the quarter. Inspire Investing LLC's holdings in OGE Energy were worth $1,793,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Natixis Advisors LLC increased its holdings in shares of OGE Energy by 0.3% in the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after acquiring an additional 250 shares in the last quarter. Tectonic Advisors LLC increased its holdings in shares of OGE Energy by 2.0% in the second quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider's stock worth $611,000 after acquiring an additional 272 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of OGE Energy by 2.0% in the second quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider's stock worth $644,000 after acquiring an additional 280 shares in the last quarter. Xponance Inc. increased its holdings in shares of OGE Energy by 1.2% in the first quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after acquiring an additional 283 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of OGE Energy by 3.2% in the second quarter. Parallel Advisors LLC now owns 9,304 shares of the utilities provider's stock worth $413,000 after acquiring an additional 289 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 0.9%

OGE stock opened at $45.78 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The stock has a market capitalization of $9.22 billion, a P/E ratio of 18.76, a P/E/G ratio of 3.18 and a beta of 0.59. The business has a 50-day moving average of $45.01 and a 200-day moving average of $44.63. OGE Energy Corporation has a fifty-two week low of $39.10 and a fifty-two week high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results 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 net margin of 15.27% and a return on equity of 10.60%. The company had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. During the same period last year, the company posted $0.51 earnings per share. The business's revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a research report on Wednesday. Finally, UBS Group upped their price objective on OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, OGE Energy currently has an average rating of "Moderate Buy" and an average price target of $47.00.

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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