Dynamic Technology Lab Private Ltd Buys Shares of 14,677 OGE Energy Corp. (NYSE:OGE)

Dynamic Technology Lab Private Ltd acquired a new position in OGE Energy Corp. (NYSE:OGE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,677 shares of the utilities provider’s stock, valued at approximately $602,000.

A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after buying an additional 531,730 shares during the last quarter. Victory Capital Management Inc. increased its holdings in OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after buying an additional 194,839 shares during the last quarter. ClearBridge Investments Ltd increased its holdings in OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after buying an additional 150,797 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of OGE Energy by 3.8% during the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after acquiring an additional 139,872 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

OGE has been the subject of several analyst reports. Barclays upped their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI raised their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and an average price target of $40.50.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $44.08 on Friday. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 3.94 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $41.36 and its 200-day simple moving average is $38.84. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

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.