Farther Finance Advisors LLC Purchases 1,727 Shares of OGE Energy Corporation $OGE

Farther Finance Advisors LLC lifted its position in shares of OGE Energy Corporation (NYSE:OGE) by 33.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,922 shares of the utilities provider’s stock after acquiring an additional 1,727 shares during the quarter. Farther Finance Advisors LLC’s holdings in OGE Energy were worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of OGE Energy by 45.9% during the 1st quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 328 shares during the period. Sowell Financial Services LLC bought a new position in shares of OGE Energy during the 1st quarter worth $305,000. Dynamic Technology Lab Private Ltd bought a new position in shares of OGE Energy during the 1st quarter worth $385,000. Inspire Investing LLC grew its stake in shares of OGE Energy by 100.2% during the 1st quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock worth $1,482,000 after acquiring an additional 16,141 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of OGE Energy by 18,212.6% during the 1st quarter. Acadian Asset Management LLC now owns 74,349 shares of the utilities provider’s stock worth $3,411,000 after acquiring an additional 73,943 shares during the period. Institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of several research reports. Barclays upgraded OGE Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.00.

OGE Energy Stock Up 0.3%

Shares of NYSE OGE opened at $45.87 on Tuesday. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $46.91. The business has a 50-day simple moving average of $44.87 and a two-hundred day simple moving average of $44.57. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The company has a market cap of $9.24 billion, a P/E ratio of 18.80, a P/E/G ratio of 3.18 and a beta of 0.60.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million during the quarter, compared to analysts’ expectations of $719.97 million. During the same period in the previous year, the business earned $0.51 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 68.85%.

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.