Envestnet Asset Management Inc. Has $3.54 Million Stake in OGE Energy Corporation $OGE

Envestnet Asset Management Inc. reduced its stake in shares of OGE Energy Corporation (NYSE:OGE) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 80,861 shares of the utilities provider’s stock after selling 3,753 shares during the quarter. Envestnet Asset Management Inc.’s holdings in OGE Energy were worth $3,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Clearstead Trust LLC acquired a new stake in shares of OGE Energy in the 1st quarter valued at $42,000. Brooklyn Investment Group lifted its holdings in OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 798 shares during the last quarter. Tompkins Financial Corp boosted its position in OGE Energy by 42.9% in the second quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock valued at $44,000 after buying an additional 300 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in OGE Energy in the first quarter valued at about $55,000. Finally, ST Germain D J Co. Inc. bought a new stake in OGE Energy during the second quarter worth about $89,000. 71.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OGE shares. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Mizuho boosted their price objective on OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Jefferies Financial Group increased their target price on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

OGE Energy Stock Down 0.5%

Shares of OGE opened at $44.74 on Friday. The business’s fifty day moving average price is $45.19 and its two-hundred day moving average price is $44.78. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 3.08 and a beta of 0.60. OGE Energy Corporation has a 52 week low of $39.41 and a 52 week high of $47.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, October 6th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is currently 68.27%.

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.