OGE Energy Corporation $OGE Shares Newly Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new stake in OGE Energy Corporation (NYSE:OGE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 75,000 shares of the utilities provider’s stock, valued at approximately $3,406,000.

Several other institutional investors have also recently bought and sold shares of the business. Operose Advisors LLC bought a new position in shares of OGE Energy in the second quarter worth about $26,000. Silver Grove Financial Group Inc. boosted its stake in shares of OGE Energy by 484.6% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 608 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 504 shares in the last quarter. Markowski Investments bought a new stake in shares of OGE Energy during the 2nd quarter valued at approximately $29,000. Clearstead Trust LLC bought a new stake in shares of OGE Energy during the 2nd quarter valued at approximately $37,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in shares of OGE Energy during the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Buying and Selling

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. This trade represents a 13.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

OGE Energy Stock Up 0.3%

NYSE:OGE opened at $51.21 on Friday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $51.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.52. The company has a market cap of $10.59 billion, a PE ratio of 19.27, a P/E/G ratio of 3.16 and a beta of 0.48. The firm’s 50 day simple moving average is $47.34 and its 200 day simple moving average is $47.42.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.36 by $0.16. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, research analysts anticipate that OGE Energy Corporation will post 2.57 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were given a dividend of $0.4288 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.3%. This is an increase from OGE Energy’s previous quarterly dividend of $0.4250. The ex-dividend date of this dividend was Monday, October 5th. OGE Energy’s payout ratio is currently 64.91%.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of OGE Energy from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. BMO Capital Markets decreased their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Argus reiterated a “buy” rating on shares of OGE Energy in a report on Wednesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. cut their price objective on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.00.

About OGE Energy

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers. OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area. The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.