LPL Financial LLC Grows Position in OGE Energy Corporation (NYSE:OGE)

Key Points

• LPL Financial LLC increased its holdings in OGE Energy Corporation by 14.7% during the first quarter, acquiring an additional 29,650 shares for a total of 231,189 shares, valued at approximately $10.6 million.
• OGE Energy recently announced a quarterly dividend of $0.4213 per share, representing an annualized yield of 3.7%, with a payout ratio currently at 68.85%.
• Analyst ratings for OGE Energy show mixed opinions, with upgrades to "buy" and "hold," while some brokerages have downgraded the stock, leading to an average rating of "Hold" and a consensus price target of $46.80.

LPL Financial LLC lifted its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 14.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,189 shares of the utilities provider's stock after purchasing an additional 29,650 shares during the period. LPL Financial LLC owned about 0.11% of OGE Energy worth $10,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Advisors LLC grew its stake in OGE Energy by 34.0% during the first quarter. Inspire Advisors LLC now owns 62,326 shares of the utilities provider's stock valued at $2,864,000 after acquiring an additional 15,809 shares in the last quarter. HB Wealth Management LLC lifted its position in OGE Energy by 6.5% during the first quarter. HB Wealth Management LLC now owns 5,878 shares of the utilities provider's stock valued at $270,000 after purchasing an additional 361 shares during the last quarter. Applied Finance Capital Management LLC bought a new position in OGE Energy during the first quarter valued at $237,000. Neo Ivy Capital Management bought a new position in OGE Energy during the first quarter valued at $760,000. Finally, Assetmark Inc. lifted its position in OGE Energy by 3.7% during the first quarter. Assetmark Inc. now owns 376,043 shares of the utilities provider's stock valued at $17,283,000 after purchasing an additional 13,442 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on OGE shares. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Wall Street Zen lowered shares of OGE Energy from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Wells Fargo & Company raised their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $46.80.

Insider Activity at OGE Energy

In other news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president owned 43,932 shares of the company's stock, valued at $1,935,643.92. The trade was a 20.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company's stock.

OGE Energy Trading Up 0.0%

OGE traded up $0.01 on Tuesday, reaching $45.19. 461,916 shares of the company traded hands, compared to its average volume of 1,163,790. OGE Energy Corporation has a one year low of $38.86 and a one year high of $46.91. The firm has a fifty day simple moving average of $44.51 and a two-hundred day simple moving average of $44.37. The company has a market cap of $9.10 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $719.97 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.7%. OGE Energy's payout ratio is currently 68.85%.

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.