National Bank of Canada FI Takes Position in OGE Energy Corp. (NYSE:OGE)

National Bank of Canada FI purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,100 shares of the utilities provider’s stock, valued at approximately $4,106,000.

Other hedge funds have also added to or reduced their stakes in the company. Navellier & Associates Inc. acquired a new position in OGE Energy during the 3rd quarter valued at about $785,000. PEAK6 Investments LLC acquired a new position in OGE Energy in the third quarter valued at approximately $783,000. FMR LLC boosted its stake in OGE Energy by 16.3% in the third quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock valued at $22,929,000 after acquiring an additional 78,164 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in OGE Energy by 316.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after acquiring an additional 26,411 shares during the period. Finally, Retirement Investment Advisors Inc. bought a new stake in shares of OGE Energy during the 2nd quarter valued at $450,000. Institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on OGE shares. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.50.

OGE Energy Price Performance

OGE opened at $42.04 on Friday. The company has a fifty day simple moving average of $41.78 and a 200 day simple moving average of $39.30. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.45 billion, a P/E ratio of 21.78, a P/E/G ratio of 3.82 and a beta of 0.77. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.41.

OGE Energy (NYSE:OGE) last released 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 in the prior year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, January 6th. OGE Energy’s dividend payout ratio is 87.05%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

OGE Energy Company 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.