Prospera Private Wealth LLC Buys 26,627 Shares of OGE Energy Corp. (NYSE:OGE)

Prospera Private Wealth LLC grew its stake in OGE Energy Corp. (NYSE:OGE) by 118.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 49,133 shares of the utilities provider’s stock after buying an additional 26,627 shares during the period. Prospera Private Wealth LLC’s holdings in OGE Energy were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in OGE Energy during the second quarter worth about $619,000. Wedge Capital Management L L P NC increased its position in shares of OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after purchasing an additional 22,899 shares during the period. Edgestream Partners L.P. acquired a new position in shares of OGE Energy in the first quarter valued at $640,000. Cetera Investment Advisers lifted its position in OGE Energy by 235.7% in the first quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock worth $1,989,000 after purchasing an additional 40,710 shares during the period. Finally, Cetera Advisors LLC lifted its position in OGE Energy by 207.4% in the first quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 15,017 shares during the period. Institutional investors own 71.84% of the company’s stock.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy 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 completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

OGE Energy Price Performance

Shares of OGE stock opened at $43.21 on Wednesday. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.09. The stock has a market capitalization of $8.68 billion, a PE ratio of 22.39, a PEG ratio of 3.85 and a beta of 0.74. 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’s fifty day moving average is $40.97 and its 200-day moving average is $38.53.

OGE Energy (NYSE:OGE) last issued 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). The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. Equities research analysts expect that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is currently 87.05%.

Analyst Ratings Changes

OGE has been the topic of a number of analyst reports. Barclays upped their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Evercore ISI increased their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.40.

OGE Energy Company 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.