21,000 OGE Energy Corporation $OGE Shares Purchased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. raised its position in OGE Energy Corporation (NYSE:OGE) by 15.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,000 shares of the utilities provider’s stock after purchasing an additional 21,000 shares during the period. Inspire Trust Co. N.A. owned approximately 0.07% of OGE Energy worth $6,949,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of OGE. Operose Advisors LLC bought a new position in shares of OGE Energy during the second quarter worth $26,000. Markowski Investments bought a new stake in shares of OGE Energy in the 2nd quarter valued at $29,000. Clearstead Trust LLC bought a new stake in shares of OGE Energy in the 2nd quarter valued at $37,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of OGE Energy in the 3rd quarter valued at $39,000. Finally, Kimelman & Baird LLC acquired a new stake in OGE Energy during the 2nd quarter worth $41,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the transaction, the senior vice president directly owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OGE shares. Argus reiterated a “buy” rating on shares of OGE Energy in a report on Wednesday, September 16th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research report on Thursday, October 29th. Morgan Stanley raised their price target on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 21st. Finally, BMO Capital Markets cut their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.00.

OGE Energy Stock Up 0.5%

Shares of OGE stock opened at $50.92 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.52 and a debt-to-equity ratio of 1.06. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $51.60. The firm’s fifty day moving average price is $47.14 and its two-hundred day moving average price is $47.34. The firm has a market capitalization of $10.53 billion, a P/E ratio of 19.12, a PEG ratio of 3.18 and a beta of 0.48.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.16. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. On average, equities analysts predict that OGE Energy Corporation will post 2.54 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 5th were issued a dividend of $0.4288 per share. The ex-dividend date was Monday, October 5th. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a yield of 3.4%. OGE Energy’s dividend payout ratio is currently 64.91%.

OGE Energy Company Profile

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers. OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area. The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.