OGE Energy Corporation $OGE Stake Increased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its OGE Energy stake by 135.1% in the third quarter, adding 22,987 shares to reach 40,000 shares valued at approximately $1.82 million. Institutional investors collectively own 71.84% of the stock.
• OGE Energy reported quarterly EPS of $1.52, beating the $1.36 consensus, while revenue of $1.18 billion also exceeded estimates and rose 13.2% year over year.
• The company raised its quarterly dividend to $0.4288 per share, or $1.72 annualized, a 3.5% yield. Analysts’ average rating was “Hold,” with an average price target of $50.

International Assets Investment Management LLC boosted its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 135.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the utilities provider's stock after buying an additional 22,987 shares during the quarter. International Assets Investment Management LLC's holdings in OGE Energy were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in OGE Energy during the second quarter worth $1,277,554,000. Bank of New York Mellon Corp acquired a new stake in OGE Energy in the 2nd quarter valued at about $102,382,000. Energy Income Partners LLC acquired a new stake in OGE Energy in the 2nd quarter valued at about $99,016,000. The Manufacturers Life Insurance Company purchased a new position in OGE Energy during the 2nd quarter valued at about $56,300,000. Finally, Caisse de depot et placement du Quebec purchased a new position in OGE Energy during the 2nd quarter valued at about $45,974,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $49.11 on Wednesday. The company has a 50-day simple moving average of $46.67 and a 200-day simple moving average of $47.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.52. The company has a market cap of $10.15 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 3.30 and a beta of 0.48. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.16. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The company's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Monday, October 5th were issued a dividend of $0.4288 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.5%. This is a positive change from OGE Energy's previous quarterly dividend of $0.4250. The ex-dividend date was Monday, October 5th. OGE Energy's payout ratio is 64.91%.

Analyst Upgrades and Downgrades

OGE has been the topic of several recent research reports. Barclays upped their price target on shares of OGE Energy from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, October 30th. Scotiabank restated an "outperform" rating and set a $54.00 price objective on shares of OGE Energy in a research report on Wednesday, October 28th. Wells Fargo & Company upped their target price on OGE Energy from $49.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, October 29th. Royal Bank Of Canada upgraded OGE Energy from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $50.00 to $54.00 in a report on Wednesday, September 2nd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of OGE Energy in a report on Thursday, October 29th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $50.00.

Insider Activity

In other news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the sale, the senior vice president owned 40,555 shares of the company's stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by company insiders.

OGE Energy Company Profile

OGE Energy Corp. NYSE: OGE is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.

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