Gries Financial LLC Has $1.27 Million Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Gries Financial LLC grew its position in shares of OGE Energy Corp. (NYSE:OGE) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,877 shares of the utilities provider’s stock after purchasing an additional 514 shares during the quarter. Gries Financial LLC’s holdings in OGE Energy were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of OGE Energy in the third quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new position in shares of OGE Energy in the third quarter worth approximately $63,000. Wilmington Savings Fund Society FSB acquired a new position in shares of OGE Energy in the third quarter worth approximately $134,000. Blue Trust Inc. lifted its stake in OGE Energy by 45.1% in the third quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider’s stock valued at $163,000 after buying an additional 1,236 shares during the period. Finally, Eastern Bank acquired a new position in OGE Energy in the third quarter valued at approximately $178,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OGE has been the topic of several recent analyst reports. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays dropped their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.00.

OGE Energy Stock Down 0.1 %

OGE stock opened at $42.12 on Thursday. The stock’s fifty day simple moving average is $42.04 and its two-hundred day simple moving average is $40.75. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The stock has a market cap of $8.46 billion, a P/E ratio of 21.82, a P/E/G ratio of 3.63 and a beta of 0.77.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data 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). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that OGE Energy Corp. will post 2.16 EPS for the current year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.00%. OGE Energy’s dividend payout ratio is presently 87.05%.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

OGE Energy Company 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.