Arvest Bank Trust Division Takes $204,000 Position in OGE Energy Corp. (NYSE:OGE)

Arvest Bank Trust Division acquired a new position in OGE Energy Corp. (NYSE:OGE) in the third quarter, Holdings Channel reports. The fund acquired 4,980 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings 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 worth $53,000 after buying an additional 278 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in OGE Energy by 3.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock worth $342,000 after acquiring an additional 290 shares during the last quarter. Centennial Wealth Advisory LLC grew its stake in OGE Energy by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 300 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of OGE Energy by 3.2% in the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 303 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of OGE Energy by 12.8% in the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Down 0.0 %

Shares of OGE stock opened at $42.04 on Friday. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.41. The stock has a market cap of $8.45 billion, a P/E ratio of 21.78, a P/E/G ratio of 3.80 and a beta of 0.77. The stock has a 50 day moving average of $41.78 and a 200 day moving average of $39.30. 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 posted 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). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned $1.20 earnings per share. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, January 6th. OGE Energy’s payout ratio is currently 87.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on OGE. Barclays upped their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.50.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s 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 completion of the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

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.