Occudo Quantitative Strategies LP Purchases New Position in OGE Energy Corp. (NYSE:OGE)

Occudo Quantitative Strategies LP acquired a new position in OGE Energy Corp. (NYSE:OGE) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 31,464 shares of the utilities provider’s stock, valued at approximately $1,298,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OGE. Barclays PLC raised its stake in shares of OGE Energy by 45.1% in the third quarter. Barclays PLC now owns 126,230 shares of the utilities provider’s stock worth $5,176,000 after purchasing an additional 39,263 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of OGE Energy in the fourth quarter worth approximately $252,000. Merit Financial Group LLC raised its holdings in shares of OGE Energy by 14.2% during the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 810 shares during the last quarter. M.E. Allison & CO. Inc. purchased a new position in shares of OGE Energy during the fourth quarter valued at approximately $215,000. Finally, UMB Bank n.a. lifted its position in OGE Energy by 6.7% during the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 515 shares during the period. 71.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OGE shares. Wells Fargo & Company lifted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a report on Friday, May 9th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Argus raised OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, April 11th. Finally, Barclays boosted their price target on OGE Energy from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.40.

OGE Energy Trading Down 1.1%

NYSE:OGE opened at $43.08 on Wednesday. OGE Energy Corp. has a one year low of $34.20 and a one year high of $46.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61. The business has a fifty day moving average price of $44.63 and a 200-day moving average price of $43.25.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. Sell-side analysts forecast that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 7th were paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 69.42%.

Insider Buying and Selling

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. This represents a 8.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.

OGE Energy 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.