Inspire Trust Co. N.A. Buys 17,000 Shares of OGE Energy Corp. (NYSE:OGE)

Inspire Trust Co. N.A. increased its stake in OGE Energy Corp. (NYSE:OGE) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,570 shares of the utilities provider’s stock after buying an additional 17,000 shares during the quarter. OGE Energy makes up 1.2% of Inspire Trust Co. N.A.’s holdings, making the stock its 21st biggest position. Inspire Trust Co. N.A. owned about 0.05% of OGE Energy worth $4,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OGE. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the 3rd quarter valued at about $30,000. Kimelman & Baird LLC acquired a new stake in OGE Energy in the 2nd quarter valued at about $38,000. Allspring Global Investments Holdings LLC grew its holdings in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Fortitude Family Office LLC acquired a new position in OGE Energy during the third quarter worth approximately $63,000. Finally, Gradient Investments LLC bought a new stake in OGE Energy in the second quarter valued at approximately $68,000. 71.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

OGE has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Barclays lifted their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and an average target price of $40.50.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction 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 $896,127.12. This trade represents a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Price Performance

OGE Energy stock opened at $42.04 on Friday. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 3.80 and a beta of 0.77. 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 Corp. has a 12 month low of $32.06 and a 12 month high of $44.41. The stock’s 50 day moving average is $41.78 and its 200-day moving average is $39.30.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. Equities research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

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

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.