Meritage Portfolio Management Increases Holdings in OGE Energy Corp. (NYSE:OGE)

Meritage Portfolio Management lifted its position in OGE Energy Corp. (NYSE:OGE) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,832 shares of the utilities provider’s stock after purchasing an additional 1,312 shares during the quarter. Meritage Portfolio Management’s holdings in OGE Energy were worth $488,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp grew its holdings in OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after acquiring an additional 185,069 shares during the period. Geode Capital Management LLC grew its holdings in OGE Energy by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock worth $137,433,000 after acquiring an additional 40,733 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in OGE Energy by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock worth $54,960,000 after acquiring an additional 4,761 shares during the period. Verition Fund Management LLC grew its holdings in OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after acquiring an additional 265,115 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in OGE Energy by 3,834.0% in the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OGE has been the topic of several research analyst reports. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays dropped their price objective on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.00.

OGE Energy Stock Down 0.2 %

Shares of OGE opened at $42.52 on Friday. The firm has a market cap of $8.55 billion, a P/E ratio of 22.03, a PEG ratio of 3.15 and a beta of 0.78. The stock’s 50 day moving average is $41.87 and its two-hundred day moving average is $40.95. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.41. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. Analysts predict that OGE Energy Corp. will post 2.17 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a $0.4213 dividend. The ex-dividend date was Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 3.96%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

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.