New Age Alpha Advisors LLC Raises Position in OGE Energy Corporation (NYSE:OGE)

Key Points

• New Age Alpha Advisors LLC increased its stake in OGE Energy Corporation by 30.6%, owning approximately $7.96 million worth of shares after purchasing an additional 40,576 shares in the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for OGE Energy, with an average price target of $46.80, reflecting recent upgrades from firms like Argus and Barclays.
• OGE Energy recently announced a quarterly dividend of $0.4213 per share, with a dividend yield of 3.7%, while reporting quarterly revenue of $741.60 million, surpassing estimates.

New Age Alpha Advisors LLC increased its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 173,276 shares of the utilities provider's stock after purchasing an additional 40,576 shares during the quarter. New Age Alpha Advisors LLC owned 0.09% of OGE Energy worth $7,964,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in OGE Energy by 10.8% during the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after purchasing an additional 6,135 shares during the last quarter. Bessemer Group Inc. raised its holdings in OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock worth $48,000 after purchasing an additional 328 shares during the last quarter. Sowell Financial Services LLC acquired a new position in OGE Energy during the first quarter worth $305,000. Wealth Enhancement Advisory Services LLC raised its holdings in OGE Energy by 19.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock worth $1,421,000 after purchasing an additional 5,043 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in OGE Energy by 26.2% during the fourth quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock worth $363,000 after purchasing an additional 1,832 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at OGE Energy

In other news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the sale, the vice president owned 43,932 shares of the company's stock, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company's stock.

OGE Energy Trading Down 1.0%

OGE Energy stock traded down $0.45 during trading on Friday, hitting $45.39. The company's stock had a trading volume of 959,589 shares, compared to its average volume of 1,083,960. The stock's fifty day moving average is $44.49 and its 200 day moving average is $44.33. OGE Energy Corporation has a 1-year low of $38.80 and a 1-year 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. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 3.19 and a beta of 0.57.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) 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 firm had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. During the same period last year, the firm posted $0.51 EPS. OGE Energy's revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, July 7th. OGE Energy's payout ratio is 68.85%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OGE. Wells Fargo & Company boosted their price target on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a report on Friday, April 11th. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Wall Street Zen cut OGE Energy from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of "Hold" and a consensus target price of $46.80.

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.