Algert Global LLC Decreases Stake in OGE Energy Corp. (NYSE:OGE)

Algert Global LLC reduced its position in shares of OGE Energy Corp. (NYSE:OGE) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,422 shares of the utilities provider’s stock after selling 47,680 shares during the period. Algert Global LLC’s holdings in OGE Energy were worth $6,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OGE. V Square Quantitative Management LLC acquired a new stake in OGE Energy during the third quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy during the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new stake in OGE Energy during the second quarter worth about $38,000. Allspring Global Investments Holdings LLC increased its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in OGE Energy during the third quarter worth about $63,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE stock opened at $43.81 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The stock has a market capitalization of $8.80 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The company has a 50 day moving average price of $41.17 and a 200 day moving average price of $38.66. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.33.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. Equities research analysts predict that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.85%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 87.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Barclays lifted 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 report on Monday, October 21st. Finally, Evercore ISI lifted their price target 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.40.

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.