M.E. Allison & CO. Inc. Invests $215,000 in OGE Energy Corp. (NYSE:OGE)

M.E. Allison & CO. Inc. bought a new stake in OGE Energy Corp. (NYSE:OGE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,215 shares of the utilities provider’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC increased its position in shares of OGE Energy by 14.2% during the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 810 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of OGE Energy in the fourth quarter valued at approximately $252,000. Harbor Capital Advisors Inc. boosted its position in shares of OGE Energy by 83.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock valued at $3,947,000 after buying an additional 43,529 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of OGE Energy during the fourth quarter valued at approximately $236,000. Finally, GAMMA Investing LLC grew its holdings in OGE Energy by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 5,483 shares of the utilities provider’s stock worth $226,000 after buying an additional 1,093 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $42.61 on Tuesday. The stock has a 50 day moving average of $42.07 and a 200 day moving average of $40.44. 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 12 month low of $32.06 and a 12 month high of $44.41. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 3.40 and a beta of 0.77.

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 business had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts forecast that OGE Energy Corp. will post 2.16 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s payout ratio is 87.05%.

Analysts Set New Price Targets

Separately, Barclays lifted their price objective 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.67.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

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.