Boston Partners Purchases 846,365 Shares of OGE Energy Corporation $OGE

Boston Partners raised its position in OGE Energy Corporation (NYSE:OGE) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,248,222 shares of the utilities provider’s stock after buying an additional 846,365 shares during the quarter. Boston Partners owned about 3.10% of OGE Energy worth $277,388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in shares of OGE Energy by 427.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 632 shares in the last quarter. Clearstead Trust LLC acquired a new position in OGE Energy during the first quarter valued at approximately $42,000. Brooklyn Investment Group lifted its stake in OGE Energy by 725.5% during the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 798 shares during the last quarter. Tompkins Financial Corp boosted its holdings in shares of OGE Energy by 42.9% in the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 300 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of OGE Energy in the 2nd quarter valued at $89,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of OGE stock opened at $45.54 on Thursday. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.08 and a beta of 0.60. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $45.28 and its 200-day moving average price is $44.75. OGE Energy Corporation has a 12 month low of $39.41 and a 12 month high of $47.33.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a net margin of 15.28% and a return on equity of 10.86%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $1.09 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Monday, October 6th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. OGE Energy’s payout ratio is 68.27%.

Analysts Set New Price Targets

Several analysts recently weighed in on OGE shares. UBS Group upped their price objective on OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Mizuho increased their target price on shares of OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Wells Fargo & Company raised shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, OGE Energy currently has an average rating of “Moderate Buy” and an average target price of $48.75.

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.