New Wave Wealth Advisors LLC Makes New Investment in OGE Energy Corp. (NYSE:OGE)

New Wave Wealth Advisors LLC purchased a new stake in OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,944 shares of the utilities provider’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gries Financial LLC lifted its position in shares of OGE Energy by 1.7% during the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock valued at $1,274,000 after acquiring an additional 514 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of OGE Energy by 41.6% during the fourth quarter. Foundations Investment Advisors LLC now owns 14,743 shares of the utilities provider’s stock valued at $608,000 after purchasing an additional 4,328 shares during the period. KBC Group NV boosted its position in shares of OGE Energy by 55.2% during the 4th quarter. KBC Group NV now owns 7,795 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 2,774 shares in the last quarter. UMB Bank n.a. grew its stake in shares of OGE Energy by 6.7% in the 4th quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock valued at $339,000 after buying an additional 515 shares during the period. Finally, M.E. Allison & CO. Inc. acquired a new stake in shares of OGE Energy in the 4th quarter valued at about $215,000. 71.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays cut their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

Insider Buying and Selling

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

OGE Energy Price Performance

OGE stock opened at $42.23 on Friday. 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 business has a 50-day simple moving average of $41.99 and a two-hundred day simple moving average of $40.80. The company has a market capitalization of $8.49 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 3.14 and a beta of 0.77. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41.

OGE Energy (NYSE:OGE) last announced its 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 analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. Research analysts expect that OGE Energy Corp. will post 2.17 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Monday, January 6th. OGE Energy’s payout ratio is currently 87.05%.

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.