Envestnet Portfolio Solutions Inc. Buys 14,564 Shares of OGE Energy Corporation $OGE

Envestnet Portfolio Solutions Inc. grew its stake in shares of OGE Energy Corporation (NYSE:OGE) by 277.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,805 shares of the utilities provider’s stock after purchasing an additional 14,564 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in OGE Energy were worth $879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock valued at $48,000 after buying an additional 328 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of OGE Energy during the first quarter valued at approximately $305,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of OGE Energy during the first quarter valued at approximately $385,000. Inspire Investing LLC raised its position in shares of OGE Energy by 100.2% during the first quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock valued at $1,482,000 after buying an additional 16,141 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of OGE Energy by 40.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock valued at $1,928,000 after buying an additional 12,430 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Up 0.1%

OGE stock opened at $46.47 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a twelve month low of $39.10 and a twelve month high of $47.33. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. The firm’s fifty day simple moving average is $45.09 and its two-hundred day simple moving average is $44.65.

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

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.7%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. OGE Energy’s dividend payout ratio (DPR) is presently 69.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OGE shares. UBS Group boosted their price target on shares of 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 upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

OGE Energy 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.