ING Groep NV Takes Position in OGE Energy Corp. (NYSE:OGE)

ING Groep NV purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 90,200 shares of the utilities provider’s stock, valued at approximately $3,700,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blair William & Co. IL grew its position in shares of OGE Energy by 10.0% in the 1st quarter. Blair William & Co. IL now owns 22,581 shares of the utilities provider’s stock worth $775,000 after buying an additional 2,052 shares during the period. TIAA Trust National Association increased its stake in shares of OGE Energy by 3.6% during the first quarter. TIAA Trust National Association now owns 14,511 shares of the utilities provider’s stock valued at $498,000 after purchasing an additional 507 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of OGE Energy during the first quarter valued at approximately $640,000. O Shaughnessy Asset Management LLC bought a new stake in shares of OGE Energy in the 1st quarter worth approximately $217,000. Finally, Natixis purchased a new stake in shares of OGE Energy in the 1st quarter worth approximately $1,677,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OGE shares. Evercore ISI lifted their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Barclays lifted 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. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.40.

OGE Energy Trading Up 2.4 %

Shares of NYSE:OGE opened at $42.79 on Friday. 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 has a market cap of $8.60 billion, a P/E ratio of 22.17, a PEG ratio of 3.86 and a beta of 0.74. The stock’s fifty day moving average price is $40.85 and its 200-day moving average price is $38.40.

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

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 3.94%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is currently 87.05%.

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.