OGE Energy Corp. (NYSE:OGE) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 200.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,162 shares of the utilities provider’s stock after purchasing an additional 34,823 shares during the period. Harbor Capital Advisors Inc.’s holdings in OGE Energy were worth $2,140,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norris Perne & French LLP MI acquired a new position in OGE Energy during the 3rd quarter valued at about $217,000. US Bancorp DE increased its stake in shares of OGE Energy by 1.8% during the third quarter. US Bancorp DE now owns 24,335 shares of the utilities provider’s stock valued at $998,000 after acquiring an additional 419 shares during the period. Fortitude Family Office LLC bought a new stake in OGE Energy during the third quarter worth approximately $63,000. Nisa Investment Advisors LLC lifted its position in OGE Energy by 3.1% in the third quarter. Nisa Investment Advisors LLC now owns 253,025 shares of the utilities provider’s stock worth $10,379,000 after purchasing an additional 7,700 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in OGE Energy by 0.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 300,775 shares of the utilities provider’s stock valued at $12,337,000 after purchasing an additional 1,580 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

OGE Energy Trading Up 0.5 %

NYSE:OGE opened at $39.84 on Tuesday. The stock has a fifty day simple moving average of $40.31 and a 200 day simple moving average of $37.85. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 3.56 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $41.48.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. During the same period last year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that OGE Energy Corp. will post 2.14 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 25th. Stockholders of record on Monday, October 7th were given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is 82.35%.

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.