Triton Financial Group Inc Takes $845,000 Position in OGE Energy Corporation $OGE

Triton Financial Group Inc purchased a new stake in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, Holdings Channel reports. The institutional investor purchased 19,037 shares of the utilities provider’s stock, valued at approximately $845,000.

A number of other hedge funds have also bought and sold shares of OGE. Boston Partners grew its position in shares of OGE Energy by 29.1% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in OGE Energy during the 1st quarter valued at about $40,429,000. Nuveen LLC bought a new stake in shares of OGE Energy during the first quarter valued at about $24,141,000. Goldman Sachs Group Inc. lifted its holdings in shares of OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after buying an additional 367,960 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of OGE Energy by 39.7% in the second quarter. Allianz Asset Management GmbH now owns 1,284,334 shares of the utilities provider’s stock valued at $56,999,000 after acquiring an additional 365,229 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OGE shares. UBS Group upped their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

OGE Energy Price Performance

OGE stock opened at $46.67 on Tuesday. The firm has a 50 day simple moving average of $45.12 and a two-hundred day simple moving average of $44.67. The stock has a market cap of $9.40 billion, a PE ratio of 19.13, a P/E/G ratio of 3.23 and a beta of 0.59. OGE Energy Corporation has a one year low of $39.10 and a one year high of $47.33. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, analysts predict 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 will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $0.425 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. OGE Energy’s dividend payout ratio is currently 69.67%.

About OGE Energy

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.