Hennion & Walsh Asset Management Inc. Buys 15,398 Shares of OGE Energy Corporation $OGE

Hennion & Walsh Asset Management Inc. raised its stake in shares of OGE Energy Corporation (NYSE:OGE) by 51.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,408 shares of the utilities provider’s stock after purchasing an additional 15,398 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in OGE Energy were worth $2,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its position in shares of OGE Energy by 15.7% during the second quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock valued at $277,388,000 after buying an additional 846,365 shares during the period. Geode Capital Management LLC grew its holdings in shares of OGE Energy by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,555,290 shares of the utilities provider’s stock worth $157,824,000 after acquiring an additional 26,569 shares during the period. First Trust Advisors LP grew its holdings in shares of OGE Energy by 51.2% during the 2nd quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock worth $104,732,000 after acquiring an additional 799,264 shares during the period. Norges Bank bought a new position in shares of OGE Energy in the 2nd quarter worth approximately $101,421,000. Finally, Franklin Resources Inc. lifted its stake in shares of OGE Energy by 0.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,730,071 shares of the utilities provider’s stock valued at $76,781,000 after purchasing an additional 12,724 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OGE. UBS Group decreased their price objective on OGE Energy from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Barclays raised their target price on shares of OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group boosted their price target on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.38.

OGE Energy Stock Up 1.3%

Shares of OGE Energy stock opened at $42.71 on Friday. The company has a 50-day simple moving average of $43.73 and a two-hundred day simple moving average of $44.57. The stock has a market capitalization of $8.60 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.50 and a beta of 0.63. OGE Energy Corporation has a 52-week low of $39.41 and a 52-week high of $47.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be paid a $0.425 dividend. The ex-dividend date is Monday, January 5th. This represents a $1.70 annualized dividend and a dividend yield of 4.0%. OGE Energy’s payout ratio is currently 68.27%.

OGE Energy Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.