Quantbot Technologies LP Takes $1.82 Million Position in OGE Energy Corp. (NYSE:OGE)

Quantbot Technologies LP purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 44,313 shares of the utilities provider’s stock, valued at approximately $1,818,000.

Several other large investors have also recently bought and sold shares of the business. ClearBridge Investments Ltd increased its holdings in shares of OGE Energy by 2.7% during the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after acquiring an additional 150,797 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of OGE Energy by 31.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of OGE Energy by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock worth $54,960,000 after acquiring an additional 4,761 shares during the period. International Assets Investment Management LLC lifted its position in shares of OGE Energy by 3,834.0% in the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after acquiring an additional 729,579 shares during the period. Finally, FMR LLC lifted its position in shares of OGE Energy by 16.3% during the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after buying an additional 78,164 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on OGE. Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Evercore ISI raised their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.50.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Stock Down 0.3 %

NYSE OGE opened at $43.96 on Friday. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The stock has a market capitalization of $8.83 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. The stock has a fifty day moving average of $41.44 and a 200-day moving average of $38.88.

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

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 3.83%. OGE Energy’s payout ratio is currently 87.05%.

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.