Quantbot Technologies LP Takes $1.82 Million Position in OGE Energy Corp. (NYSE:OGE)

Quantbot Technologies LP purchased a new stake in OGE Energy Corp. (NYSE:OGE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,313 shares of the utilities provider’s stock, valued at approximately $1,818,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after buying an additional 278 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of OGE Energy by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after buying an additional 290 shares during the period. Centennial Wealth Advisory LLC boosted its stake in shares of OGE Energy by 3.8% in the third quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after buying an additional 300 shares during the period. Fifth Third Bancorp boosted its stake in shares of OGE Energy by 3.2% in the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock valued at $352,000 after buying an additional 303 shares during the period. Finally, Blue Trust Inc. lifted its stake in OGE Energy by 12.8% during the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 312 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $43.96 on Friday. The company has a market cap of $8.83 billion, a P/E ratio of 22.78, a PEG ratio of 3.98 and a beta of 0.74. The business has a 50-day moving average price of $41.44 and a two-hundred day moving average price of $38.88. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million for 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%. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. As a group, analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 3.83%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated 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 sale, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OGE. Barclays upped their price target 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. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Evercore ISI upped their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.50.

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.