Morningstar Investment Management LLC Invests $391,000 in OGE Energy Corporation $OGE

Key Points

• Morningstar Investment Management LLC has purchased a new position in OGE Energy Corporation, acquiring 8,819 shares valued at approximately $391,000 during the 2nd quarter.
• OGE Energy recently announced a quarterly dividend of $0.425 per share, marking an increase from the previous dividend of $0.42, with a dividend yield of 3.7%.
• Analysts have upgraded OGE Energy's rating, with reports highlighting an average rating of "Moderate Buy" and an average price target of $47.00.

Morningstar Investment Management LLC bought a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,819 shares of the utilities provider's stock, valued at approximately $391,000.

Several other institutional investors and hedge funds have also modified their holdings of OGE. Farther Finance Advisors LLC boosted its holdings in shares of OGE Energy by 66.5% in the 1st quarter. Farther Finance Advisors LLC now owns 5,195 shares of the utilities provider's stock worth $240,000 after acquiring an additional 2,074 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of OGE Energy by 27.5% in the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of OGE Energy by 19.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock worth $1,421,000 after acquiring an additional 5,043 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of OGE Energy in the 1st quarter worth approximately $216,000. Finally, Sowell Financial Services LLC acquired a new position in shares of OGE Energy in the 1st quarter worth approximately $305,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $46.54 on Wednesday. The firm has a fifty day moving average of $45.03 and a two-hundred day moving average of $44.65. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.19 and a beta of 0.59. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $46.91. 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 issued its 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). The business had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities research analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 dividend 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 is presently 69.67%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen raised 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 report on Wednesday, October 8th. 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 report on Friday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, OGE Energy has an average rating of "Moderate Buy" and an average price target of $47.00.

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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