State of Alaska Department of Revenue Boosts Stake in OGE Energy Corp. (NYSE:OGE)

State of Alaska Department of Revenue lifted its position in OGE Energy Corp. (NYSE:OGE) by 0.5% in the third quarter, Holdings Channel reports. The firm owned 300,775 shares of the utilities provider’s stock after acquiring an additional 1,580 shares during the period. State of Alaska Department of Revenue’s holdings in OGE Energy were worth $12,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Donoghue Forlines LLC purchased a new stake in shares of OGE Energy in the first quarter valued at about $656,000. Harbor Capital Advisors Inc. acquired a new stake in OGE Energy during the 2nd quarter worth approximately $619,000. SG Americas Securities LLC grew its stake in shares of OGE Energy by 2,815.6% in the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock valued at $4,154,000 after purchasing an additional 116,961 shares during the last quarter. Wedge Capital Management L L P NC raised its position in OGE Energy by 6.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after buying an additional 22,899 shares during the last quarter. Finally, Duality Advisers LP lifted its position in OGE Energy by 53.1% in the first quarter. Duality Advisers LP now owns 119,914 shares of the utilities provider’s stock valued at $4,113,000 after purchasing an additional 41,584 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE Energy stock opened at $40.47 on Monday. The firm has a market capitalization of $8.12 billion, a PE ratio of 20.54, a P/E/G ratio of 3.63 and a beta of 0.74. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48. The firm’s 50-day simple moving average is $40.26 and its 200 day simple moving average is $37.60. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating 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 analyst estimates of $837.51 million. During the same period in the prior year, the business earned $0.44 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts predict that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s payout ratio is 85.28%.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent analyst reports. Barclays raised their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, Evercore ISI increased their target price 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. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.