Wealth Enhancement Advisory Services LLC Buys 12,430 Shares of OGE Energy Corporation $OGE

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in OGE Energy by 40.2%, acquiring an additional 12,430 shares in the second quarter, bringing its total to 43,352 shares valued at approximately $1.93 million.
• OGE Energy has announced a quarterly dividend increase to $0.425 per share, with the next payment scheduled for October 31st, boasting a 3.7% yield.
• Analysts have upgraded OGE Energy's rating to "overweight" with a price target of $47.00, reflecting a consensus average rating of "Moderate Buy" among several research firms.

Wealth Enhancement Advisory Services LLC grew its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 40.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,352 shares of the utilities provider's stock after acquiring an additional 12,430 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in OGE Energy were worth $1,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in OGE. Two Sigma Advisers LP purchased a new position in shares of OGE Energy in the fourth quarter valued at about $214,000. Versant Capital Management Inc lifted its position in shares of OGE Energy by 337.3% in the first quarter. Versant Capital Management Inc now owns 1,924 shares of the utilities provider's stock valued at $88,000 after acquiring an additional 1,484 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of OGE Energy by 5,760.9% in the first quarter. GAMMA Investing LLC now owns 321,352 shares of the utilities provider's stock valued at $14,769,000 after acquiring an additional 315,869 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of OGE Energy by 5.9% in the first quarter. Merit Financial Group LLC now owns 6,887 shares of the utilities provider's stock valued at $317,000 after acquiring an additional 382 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of OGE Energy by 246.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,153 shares of the utilities provider's stock valued at $972,000 after acquiring an additional 15,046 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Trading Up 1.4%

Shares of NYSE OGE opened at $45.73 on Monday. The business's 50 day moving average is $44.85 and its two-hundred day moving average is $44.57. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy Corporation has a 1-year low of $39.10 and a 1-year high of $46.91. The stock has a market capitalization of $9.21 billion, a P/E ratio of 18.74, a PEG ratio of 3.18 and a beta of 0.60.

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). 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 the consensus estimate of $719.97 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The company's revenue was up 11.9% compared to the same quarter last year. As a group, research analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 3.7%. OGE Energy's payout ratio is presently 68.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.00.

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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