Assetmark Inc. Purchases 10,475 Shares of OGE Energy Corp. (NYSE:OGE)

Assetmark Inc. boosted its position in OGE Energy Corp. (NYSE:OGE) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,357 shares of the utilities provider’s stock after purchasing an additional 10,475 shares during the quarter. Assetmark Inc.’s holdings in OGE Energy were worth $14,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Donoghue Forlines LLC bought a new stake in shares of OGE Energy in the first quarter valued at about $656,000. Harbor Capital Advisors Inc. bought a new position in OGE Energy during the second quarter worth about $619,000. SG Americas Securities LLC raised its stake in OGE Energy by 2,815.6% in the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after purchasing an additional 116,961 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in OGE Energy by 6.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after purchasing an additional 22,899 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of OGE Energy during the 1st quarter worth approximately $640,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OGE has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Barclays raised 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. Finally, Evercore ISI upped their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.40.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $42.90 on Monday. The company’s 50 day simple moving average is $40.53 and its 200 day simple moving average is $38.12. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.36. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $42.96. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $1.20 EPS. OGE Energy’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a $0.4213 dividend. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Monday, October 7th. 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.