OGE Energy Corporation $OGE Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc grew its stake in shares of OGE Energy Corporation (NYSE:OGE) by 56.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,803 shares of the utilities provider’s stock after purchasing an additional 2,819 shares during the quarter. Prospera Financial Services Inc’s holdings in OGE Energy were worth $346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners boosted its position in OGE Energy by 29.1% during the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider’s stock valued at $248,209,000 after purchasing an additional 1,219,062 shares during the period. Nuveen LLC bought a new stake in OGE Energy in the first quarter valued at $24,141,000. Goldman Sachs Group Inc. boosted its holdings in shares of OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after acquiring an additional 367,960 shares during the period. Allianz Asset Management GmbH grew its position in shares of OGE Energy by 39.7% during the second quarter. Allianz Asset Management GmbH now owns 1,284,334 shares of the utilities provider’s stock worth $56,999,000 after acquiring an additional 365,229 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of OGE Energy by 5.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider’s stock worth $300,525,000 after acquiring an additional 364,268 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on OGE. Mizuho lifted their price objective on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. Barclays boosted their price objective on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Wells Fargo & Company raised OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada raised OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.75.

OGE Energy Trading Down 0.5%

OGE Energy stock opened at $44.74 on Friday. The firm has a 50 day simple moving average of $45.19 and a 200-day simple moving average of $44.78. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The stock has a market capitalization of $9.01 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60. OGE Energy Corporation has a 12-month low of $39.41 and a 12-month high of $47.33.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.OGE Energy’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities research analysts expect that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

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

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.