Victory Capital Management Inc. Raises Position in OGE Energy Corp. (NYSE:OGE)

Victory Capital Management Inc. boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,654 shares of the utilities provider’s stock after purchasing an additional 51,437 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of OGE Energy worth $14,138,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in shares of OGE Energy in the third quarter worth about $392,000. Entropy Technologies LP purchased a new position in OGE Energy in the 3rd quarter worth approximately $1,635,000. Versor Investments LP bought a new stake in OGE Energy in the third quarter valued at approximately $783,000. Meritage Portfolio Management boosted its stake in shares of OGE Energy by 9.4% during the third quarter. Meritage Portfolio Management now owns 10,520 shares of the utilities provider’s stock valued at $432,000 after purchasing an additional 901 shares during the period. Finally, Transcendent Capital Group LLC grew its holdings in shares of OGE Energy by 44.6% in the third quarter. Transcendent Capital Group LLC now owns 37,088 shares of the utilities provider’s stock worth $1,521,000 after purchasing an additional 11,432 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of NYSE OGE opened at $43.21 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.09. The company’s 50-day moving average is $40.97 and its 200 day moving average is $38.53. The stock has a market capitalization of $8.68 billion, a P/E ratio of 22.39, a P/E/G ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. On average, sell-side analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 3.90%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is presently 87.05%.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Barclays increased their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Evercore ISI boosted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, OGE Energy has a consensus rating of “Hold” and a consensus price target of $39.40.

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.