Turtle Creek Wealth Advisors LLC Purchases Shares of 6,000 OGE Energy Corporation $OGE

Key Points

• Turtle Creek Wealth Advisors LLC purchased 6,000 shares of OGE Energy Corporation for approximately $266,000, as disclosed in a recent 13F filing.
• Several institutional investors, including Boston Partners and Goldman Sachs, have significantly increased their stakes in OGE Energy during the first quarter of the year.
• OGE Energy has declared a quarterly dividend increase to $0.425, reflecting a positive change and a yield of 3.7% for investors.

Turtle Creek Wealth Advisors LLC acquired a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,000 shares of the utilities provider's stock, valued at approximately $266,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners lifted its stake in OGE Energy by 29.1% in the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after acquiring an additional 1,219,062 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in OGE Energy in the first quarter worth approximately $40,429,000. Nuveen LLC purchased a new position in OGE Energy in the first quarter worth approximately $24,141,000. Goldman Sachs Group Inc. lifted its stake in 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 worth $47,966,000 after acquiring an additional 367,960 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in 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 worth $56,999,000 after acquiring an additional 365,229 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Finally, UBS Group lifted their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.00.

OGE Energy Stock Down 1.4%

Shares of NYSE:OGE opened at $46.40 on Friday. The company has a market capitalization of $9.34 billion, a PE ratio of 19.02, a P/E/G ratio of 3.27 and a beta of 0.59. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a twelve month low of $39.10 and a twelve month high of $47.33. The firm has a 50 day simple moving average of $45.07 and a 200-day simple moving average of $44.67.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). The company had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm 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 $0.425 dividend. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 annualized dividend and a yield of 3.7%. OGE Energy's payout ratio is currently 69.67%.

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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