Y Intercept Hong Kong Ltd Makes New $310,000 Investment in OGE Energy Corporation (NYSE:OGE)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment in OGE Energy Corporation, acquiring approximately 6,748 shares valued at $310,000 during the first quarter.
• OGE Energy reported quarterly earnings of $0.31 EPS, exceeding analyst expectations and reflecting a 25.3% revenue increase compared to the same quarter last year.
• The company also announced a quarterly dividend of $0.4213 per share, representing an annualized yield of 3.75% and a payout ratio of 69.42%.

Y Intercept Hong Kong Ltd acquired a new position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,748 shares of the utilities provider's stock, valued at approximately $310,000.

A number of other hedge funds also recently made changes to their positions in OGE. T. Rowe Price Investment Management Inc. increased its holdings in OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock worth $254,701,000 after purchasing an additional 844,679 shares in the last quarter. Northern Trust Corp increased its holdings in OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after purchasing an additional 807,690 shares in the last quarter. Geode Capital Management LLC increased its holdings in OGE Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider's stock worth $138,845,000 after purchasing an additional 15,415 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in OGE Energy by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,907 shares of the utilities provider's stock worth $94,913,000 after purchasing an additional 121,446 shares in the last quarter. Finally, Norges Bank bought a new stake in OGE Energy in the fourth quarter worth approximately $68,876,000. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OGE. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company lifted their target price on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Finally, Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.80.

OGE Energy Stock Down 0.2%

OGE Energy stock traded down $0.08 during mid-day trading on Friday, reaching $45.35. The stock had a trading volume of 1,104,862 shares, compared to its average volume of 1,092,059. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.47 and a current ratio of 0.78. OGE Energy Corporation has a fifty-two week low of $38.42 and a fifty-two week high of $46.91. The stock's 50-day simple moving average is $44.35 and its 200-day simple moving average is $44.25. The firm has a market capitalization of $9.13 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. During the same period last year, the business posted $0.51 EPS. The company's revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.7%. OGE Energy's payout ratio is presently 68.85%.

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the transaction, the insider owned 72,548 shares of the company's stock, valued at $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

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.