Verition Fund Management LLC Buys 265,115 Shares of OGE Energy Corp. (NYSE:OGE)

Verition Fund Management LLC raised its position in shares of OGE Energy Corp. (NYSE:OGE) by 25.2% in the third quarter, Holdings Channel reports. The firm owned 1,318,556 shares of the utilities provider’s stock after acquiring an additional 265,115 shares during the quarter. OGE Energy accounts for 0.3% of Verition Fund Management LLC’s holdings, making the stock its 26th biggest holding. Verition Fund Management LLC’s holdings in OGE Energy were worth $54,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new position in OGE Energy in the first quarter worth about $217,000. PEAK6 Investments LLC bought a new stake in shares of OGE Energy during the first quarter valued at approximately $395,000. Price T Rowe Associates Inc. MD lifted its stake in OGE Energy by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,630 shares of the utilities provider’s stock worth $5,304,000 after purchasing an additional 4,190 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of OGE Energy during the 1st quarter valued at about $336,000. Finally, Jane Street Group LLC grew its position in shares of OGE Energy by 147.5% during the first quarter. Jane Street Group LLC now owns 205,958 shares of the utilities provider’s stock valued at $7,064,000 after purchasing an additional 122,750 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Trading Up 0.1 %

Shares of NYSE OGE opened at $44.08 on Friday. The stock has a market capitalization of $8.86 billion, a P/E ratio of 22.84, a PEG ratio of 3.98 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The business’s 50 day moving average is $41.44 and its two-hundred day moving average is $38.88. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy’s payout ratio is currently 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on OGE shares. Barclays boosted their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, Evercore ISI raised their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.50.

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.