Algert Global LLC Sells 47,680 Shares of OGE Energy Corp. (NYSE:OGE)

Algert Global LLC cut its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 24.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,422 shares of the utilities provider's stock after selling 47,680 shares during the quarter. Algert Global LLC owned approximately 0.07% of OGE Energy worth $6,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in OGE Energy during the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in OGE Energy during the second quarter worth $35,000. Kimelman & Baird LLC bought a new position in OGE Energy during the 2nd quarter valued at $38,000. Allspring Global Investments Holdings LLC grew its stake in shares of OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock worth $53,000 after acquiring an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of OGE Energy in the third quarter valued at about $63,000. 71.84% of the stock is owned by institutional investors.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business's 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 approximately $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

OGE has been the topic of several research analyst reports. Evercore ISI boosted their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a research report on Thursday, August 8th. Barclays boosted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $39.40.

OGE Energy Stock Performance

OGE remained flat at $43.81 on Friday. 1,228,374 shares of the company were exchanged, compared to its average volume of 1,359,437. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.33. 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 debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The business has a 50-day moving average of $41.17 and a 200 day moving average of $38.70.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Monday, October 7th. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio (DPR) is 87.05%.

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.