Triton Financial Group Inc Takes $845,000 Position in OGE Energy Corporation $OGE

Key Points

• Triton Financial Group Inc has acquired a new position in OGE Energy Corporation, purchasing 19,037 shares valued at approximately $845,000.
• The company announced an increase in its quarterly dividend to $0.425 per share, resulting in an annualized dividend yield of 3.6%.
• OGE Energy has received a range of ratings from analysts, with an average target price of $47.00 indicating a "Moderate Buy" outlook.

Triton Financial Group Inc bought a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,037 shares of the utilities provider's stock, valued at approximately $845,000.

Several other large investors have also added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in shares of OGE Energy by 45.9% in 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. Dynamic Technology Lab Private Ltd bought a new stake in OGE Energy during the first quarter worth $385,000. Inspire Investing LLC raised its position in OGE Energy by 100.2% in the 1st quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider's stock valued at $1,482,000 after buying an additional 16,141 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in OGE Energy by 40.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider's stock valued at $1,928,000 after acquiring an additional 12,430 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in OGE Energy by 18,212.6% during the 1st quarter. Acadian Asset Management LLC now owns 74,349 shares of the utilities provider's stock worth $3,411,000 after acquiring an additional 73,943 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OGE shares. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. UBS Group increased their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.00.

OGE Energy Stock Performance

Shares of OGE stock opened at $46.67 on Tuesday. 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 firm has a market cap of $9.40 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 3.23 and a beta of 0.59. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $47.33. The firm's 50-day simple moving average is $45.12 and its two-hundred day simple moving average is $44.67.

OGE Energy (NYSE:OGE - Get Free Report) last issued 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). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's payout ratio is currently 69.67%.

About OGE Energy

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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