MBL Wealth LLC Buys 11,467 Shares of OGE Energy Corporation $OGE

MBL Wealth LLC acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE) in the third quarter, HoldingsChannel reports. The fund acquired 11,467 shares of the utilities provider’s stock, valued at approximately $521,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of OGE Energy during the 2nd quarter worth approximately $1,277,554,000. Dockside LLC acquired a new position in OGE Energy during the 2nd quarter valued at about $1,102,000. Jupiter Topco LLC bought a new position in OGE Energy in the 2nd quarter worth about $4,354,000. Royal Bank of Canada grew its position in OGE Energy by 89.4% in the 1st quarter. Royal Bank of Canada now owns 157,249 shares of the utilities provider’s stock worth $7,540,000 after purchasing an additional 74,242 shares during the last quarter. Finally, Bank of America Corp DE grew its position in OGE Energy by 10.5% in the 1st quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider’s stock worth $46,417,000 after purchasing an additional 91,696 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Insider Buying and Selling

In related news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OGE has been the subject of several analyst reports. Argus reiterated a “buy” rating on shares of OGE Energy in a research report on Wednesday, September 16th. Barclays restated an “equal weight” rating and issued a $48.00 target price (down from $52.00) on shares of OGE Energy in a research report on Monday, October 19th. Scotiabank assumed coverage on OGE Energy in a research note on Tuesday, September 29th. They set a “sector outperform” rating and a $49.00 target price on the stock. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Finally, Wells Fargo & Company increased their price target on OGE Energy from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus price target of $49.00.

OGE Energy Stock Down 1.0%

OGE Energy stock opened at $48.42 on Friday. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 3.15 and a beta of 0.50. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The company’s 50-day moving average price is $46.31 and its two-hundred day moving average price is $47.39. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.59.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. OGE Energy’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. On average, analysts expect that OGE Energy Corporation will post 2.45 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a dividend of $0.4288 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, October 5th. OGE Energy’s dividend payout ratio (DPR) is 75.77%.

OGE Energy Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.