OGE Energy Corporation $OGE Shares Purchased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. boosted its position in shares of OGE Energy Corporation (NYSE:OGE) by 15.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,000 shares of the utilities provider’s stock after acquiring an additional 21,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in OGE Energy were worth $6,949,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OGE. BlackRock Inc. bought a new position in shares of OGE Energy in the 2nd quarter valued at about $1,277,554,000. State Street Corp increased its stake in shares of OGE Energy by 2.8% during the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock worth $351,640,000 after purchasing an additional 198,593 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of OGE Energy by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock worth $128,931,000 after purchasing an additional 24,529 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of OGE Energy in the 2nd quarter valued at about $102,382,000. Finally, Energy Income Partners LLC bought a new stake in shares of OGE Energy in the 2nd quarter valued at about $99,016,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Ratings Changes

OGE has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley lifted their price target on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Scotiabank reissued an “outperform” rating and set a $54.00 price target on shares of OGE Energy in a research report on Wednesday, October 28th. Royal Bank Of Canada raised OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, OGE Energy has an average rating of “Hold” and a consensus price target of $50.00.

OGE Energy Price Performance

OGE Energy stock opened at $50.92 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.52 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.18 and a beta of 0.48. The stock’s 50 day moving average is $47.14 and its 200-day moving average is $47.34. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $51.60.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.16. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. Equities research analysts expect that OGE Energy Corporation will post 2.54 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were issued a $0.4288 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.72 annualized dividend and a yield of 3.4%. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s payout ratio is presently 64.91%.

Insider Buying and Selling

In related news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

About OGE Energy

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers. OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area. The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.