MQS Management LLC Invests $599,000 in OGE Energy Corp. (NYSE:OGE)

MQS Management LLC purchased a new stake in OGE Energy Corp. (NYSE:OGE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 14,596 shares of the utilities provider’s stock, valued at approximately $599,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of OGE Energy in the third quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy during the second quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy in the second quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC boosted its stake in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after buying an additional 278 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of OGE Energy in the third quarter valued at approximately $63,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

OGE Energy stock opened at $43.32 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.71 billion, a PE ratio of 22.45, a P/E/G ratio of 3.93 and a beta of 0.74. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.09. The business’s 50-day moving average price is $40.69 and its two-hundred day moving average price is $38.26.

OGE Energy (NYSE:OGE) last announced its quarterly 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 company had revenue of $965.40 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.20 earnings per share. As a group, analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.89%. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Evercore ISI upped their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Finally, Barclays raised their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and a consensus price target of $39.40.

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.