Algert Global LLC Lowers Stock Position in OGE Energy Corp. (NYSE:OGE)

Algert Global LLC lessened its holdings in OGE Energy Corp. (NYSE:OGE) by 24.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 150,422 shares of the utilities provider’s stock after selling 47,680 shares during the period. Algert Global LLC owned about 0.07% of OGE Energy worth $6,170,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OGE. O Shaughnessy Asset Management LLC purchased a new stake in OGE Energy during the first quarter valued at approximately $217,000. PEAK6 Investments LLC purchased a new stake in OGE Energy during the first quarter valued at approximately $395,000. BOKF NA lifted its position in OGE Energy by 5.4% during the first quarter. BOKF NA now owns 59,054 shares of the utilities provider’s stock valued at $2,029,000 after acquiring an additional 3,030 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in OGE Energy by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,630 shares of the utilities provider’s stock valued at $5,304,000 after acquiring an additional 4,190 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in OGE Energy during the first quarter valued at approximately $1,137,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

NYSE:OGE opened at $43.81 on Friday. The firm has a market capitalization of $8.80 billion, a P/E ratio of 22.70, a PEG ratio of 3.94 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.33. The company’s fifty day moving average price is $41.17 and its 200-day moving average price is $38.66. 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 announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $1.20 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that OGE Energy Corp. will post 2.15 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.85%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Analyst Ratings Changes

OGE has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Evercore ISI increased their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Finally, Barclays upped their price target on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.40.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

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.