OGE Energy Corporation $OGE Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in OGE Energy Corporation by 2,899.9% in Q2, acquiring over 66,000 additional shares, valued at approximately $3.07 million.
• OGE Energy's quarterly earnings showed a miss on EPS, reporting $0.53 against an estimate of $0.58, though revenue increased 11.9% year-over-year.
• The company announced a dividend increase to $0.425 per share, representing a 3.7% yield, with the payout scheduled for October 31st.

AlphaQuest LLC grew its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 2,899.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,118 shares of the utilities provider's stock after acquiring an additional 66,814 shares during the period. OGE Energy comprises 0.3% of AlphaQuest LLC's portfolio, making the stock its 19th largest holding. AlphaQuest LLC's holdings in OGE Energy were worth $3,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OGE. Boston Partners boosted its holdings in shares of OGE Energy by 29.1% in the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock valued at $248,209,000 after acquiring an additional 1,219,062 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of OGE Energy in the first quarter valued at about $40,429,000. Nuveen LLC purchased a new stake in shares of OGE Energy in the first quarter valued at about $24,141,000. Goldman Sachs Group Inc. boosted its holdings in shares of OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock valued at $47,966,000 after acquiring an additional 367,960 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of OGE Energy by 39.7% in the second quarter. Allianz Asset Management GmbH now owns 1,284,334 shares of the utilities provider's stock valued at $56,999,000 after acquiring an additional 365,229 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Down 0.5%

Shares of NYSE OGE opened at $46.20 on Friday. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $47.33. The company has a market capitalization of $9.30 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. 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 firm's 50-day moving average is $45.18 and its two-hundred day moving average is $44.72.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). The business had revenue of $741.60 million during the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. Equities analysts anticipate that OGE Energy Corporation will post 2.27 EPS 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 positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 6th. OGE Energy's dividend payout ratio (DPR) is currently 69.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group boosted 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. Weiss Ratings reissued a "buy (b)" rating on shares of OGE Energy in a report on Wednesday, October 8th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Jefferies Financial Group boosted their price objective on shares of OGE Energy from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Barclays boosted their price objective on shares of OGE Energy from $47.00 to $51.00 and gave the stock an "overweight" rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $49.00.

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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