WESPAC Advisors LLC Acquires Shares of 18,056 OGE Energy Corporation $OGE

Key Points

• WESPAC Advisors LLC recently acquired 18,056 shares of OGE Energy Corporation, valued at approximately $801,000, indicating strong institutional interest in the utility sector.
• Wall Street research reports have upgraded OGE Energy's rating to "hold" and given it a consensus target price of $47.00, reflecting favorable market sentiment.
• OGE Energy announced an increase in its quarterly dividend to $0.425, providing a 3.7% annual yield to shareholders, demonstrating commitment to returning value to investors.

WESPAC Advisors LLC acquired a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 18,056 shares of the utilities provider's stock, valued at approximately $801,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its holdings in shares of OGE Energy by 0.3% during the 1st quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after buying an additional 250 shares in the last quarter. IFM Investors Pty Ltd grew its position in OGE Energy by 2.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider's stock worth $644,000 after acquiring an additional 280 shares during the last quarter. Xponance Inc. grew its position in OGE Energy by 1.2% during the 1st quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after acquiring an additional 283 shares during the last quarter. Parallel Advisors LLC grew its position in OGE Energy by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 9,304 shares of the utilities provider's stock worth $413,000 after acquiring an additional 289 shares during the last quarter. Finally, Tompkins Financial Corp grew its position in OGE Energy by 42.9% during the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider's stock worth $44,000 after acquiring an additional 300 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OGE has been the topic of a number of research reports. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

OGE Energy Trading Down 0.5%

NYSE OGE opened at $45.94 on Wednesday. The business's 50-day moving average price is $44.98 and its two-hundred day moving average price is $44.61. OGE Energy Corporation has a 12 month low of $39.10 and a 12 month high of $46.91. The firm has a market capitalization of $9.25 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.21 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 (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same quarter last year, the firm posted $0.51 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

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