LifeWealth Investments LLC Grows Position in OGE Energy Corporation $OGE

LifeWealth Investments LLC boosted its stake in OGE Energy Corporation (NYSE:OGE) by 8.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,358 shares of the utilities provider’s stock after buying an additional 722 shares during the quarter. LifeWealth Investments LLC’s holdings in OGE Energy were worth $415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in OGE Energy in the 1st quarter valued at $31,000. First Command Advisory Services Inc. purchased a new stake in OGE Energy in the 1st quarter valued at $36,000. Clearstead Trust LLC purchased a new stake in OGE Energy in the 1st quarter valued at $42,000. Brooklyn Investment Group raised its position in OGE Energy by 725.5% in the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock valued at $42,000 after buying an additional 798 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in OGE Energy by 42.9% in the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock valued at $44,000 after buying an additional 300 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Down 0.5%

OGE stock opened at $46.42 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 3.24 and a beta of 0.59. OGE Energy Corporation has a fifty-two week low of $39.10 and a fifty-two week high of $47.33. The stock has a fifty day moving average of $45.17 and a 200-day moving average of $44.69.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, equities research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is currently 69.67%.

Analyst Upgrades and Downgrades

OGE has been the subject of a number of analyst reports. Barclays increased their price target on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. UBS Group upped their price objective on OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group upped their price objective on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.00.

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.