MTM Investment Management LLC Purchases New Shares in OGE Energy Corporation $OGE

MTM Investment Management LLC bought a new position in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,157 shares of the utilities provider’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OGE. Golden State Wealth Management LLC lifted its holdings in OGE Energy by 427.0% in the second 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 during the last quarter. Clearstead Trust LLC acquired a new stake in shares of OGE Energy during the 1st quarter worth approximately $42,000. Brooklyn Investment Group lifted its holdings in shares of OGE Energy by 725.5% in the 1st 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 position in OGE Energy by 42.9% during 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 during the period. Finally, IMA Advisory Services Inc. bought a new position in OGE Energy during the 1st quarter worth $55,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Down 0.5%

OGE Energy stock opened at $44.74 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 1-year low of $39.41 and a 1-year high of $47.33. The firm’s fifty day simple moving average is $45.19 and its 200-day simple moving average is $44.77. The company has a market capitalization of $9.01 billion, a P/E ratio of 17.97, a P/E/G ratio of 3.08 and a beta of 0.60.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.86%. OGE Energy’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share. Sell-side analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a $0.425 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, October 6th. OGE Energy’s payout ratio is 68.27%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OGE. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Wells Fargo & Company raised OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Barclays upped their target price on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group increased their target price on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.75.

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.