Healthcare of Ontario Pension Plan Trust Fund Invests $1.26 Million in OGE Energy Corp. (NYSE:OGE)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,596 shares of the utilities provider’s stock, valued at approximately $1,255,000.

Several other hedge funds and other institutional investors have also bought and sold shares of OGE. Harbor Capital Advisors Inc. bought a new position in shares of OGE Energy during the second quarter worth approximately $619,000. Wedge Capital Management L L P NC increased its stake in OGE Energy by 6.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after acquiring an additional 22,899 shares during the period. Cetera Investment Advisers increased its stake in OGE Energy by 235.7% during the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock worth $1,989,000 after acquiring an additional 40,710 shares during the period. Cetera Advisors LLC lifted its position in shares of OGE Energy by 207.4% during the 1st quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider’s stock valued at $763,000 after acquiring an additional 15,017 shares during the period. Finally, Navellier & Associates Inc. acquired a new stake in shares of OGE Energy during the 3rd quarter worth $785,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OGE. Evercore ISI upped their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Barclays increased their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.50.

OGE Energy Trading Down 0.3 %

Shares of OGE Energy stock opened at $43.96 on Monday. The firm’s 50 day moving average is $41.50 and its 200 day moving average is $38.96. The firm has a market capitalization of $8.83 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.97 and a beta of 0.74. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.41. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last announced 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). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that OGE Energy Corp. will post 2.14 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 25th. Stockholders of record on Monday, October 7th were paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

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.