M.E. Allison & CO. Inc. Has $370,000 Stock Position in OGE Energy Corporation $OGE

M.E. Allison & CO. Inc. lifted its stake in shares of OGE Energy Corporation (NYSE:OGE) by 22.2% during the second quarter, Holdings Channel.com reports. The firm owned 8,332 shares of the utilities provider’s stock after acquiring an additional 1,512 shares during the period. M.E. Allison & CO. Inc.’s holdings in OGE Energy were worth $370,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake in OGE Energy by 5.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider’s stock worth $300,525,000 after buying an additional 364,268 shares during the period. Boston Partners grew its stake in OGE Energy by 29.1% in the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider’s stock valued at $248,209,000 after acquiring an additional 1,219,062 shares during the period. Northern Trust Corp increased its holdings in shares of OGE Energy by 0.3% during the first quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider’s stock valued at $164,258,000 after acquiring an additional 11,912 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OGE Energy by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider’s stock valued at $112,081,000 after acquiring an additional 137,857 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of OGE Energy by 20.4% during the first quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider’s stock worth $76,912,000 after purchasing an additional 283,281 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OGE has been the subject of several research reports. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Finally, UBS Group lifted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.00.

OGE Energy Stock Up 0.9%

OGE opened at $45.78 on Monday. OGE Energy Corporation has a twelve month low of $39.10 and a twelve month high of $46.91. The company’s 50-day moving average price is $45.01 and its two-hundred day moving average price is $44.63. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 3.18 and a beta of 0.59. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same period last year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is currently 69.67%.

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.