Franklin Resources Inc. Sells 41,007 Shares of OGE Energy Corp. (NYSE:OGE)

Franklin Resources Inc. cut its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,806,040 shares of the utilities provider's stock after selling 41,007 shares during the period. Franklin Resources Inc. owned 0.90% of OGE Energy worth $72,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of OGE. FMR LLC grew its position in shares of OGE Energy by 16.3% in the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider's stock worth $22,929,000 after buying an additional 78,164 shares during the period. Navellier & Associates Inc. bought a new position in shares of OGE Energy during the third quarter valued at approximately $785,000. PEAK6 Investments LLC bought a new position in shares of OGE Energy during the third quarter valued at approximately $783,000. BNP Paribas Financial Markets lifted its holdings in shares of OGE Energy by 316.6% during the third quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider's stock valued at $1,426,000 after purchasing an additional 26,411 shares during the last quarter. Finally, Retirement Investment Advisors Inc. bought a new stake in shares of OGE Energy in the 2nd quarter worth approximately $450,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on OGE Energy in a research note on Thursday, September 19th. They set a "buy" rating and a $46.00 price objective for the company. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, OGE Energy currently has an average rating of "Hold" and a consensus target price of $40.50.

OGE Energy Stock Down 0.2 %

OGE stock traded down $0.10 during midday trading on Tuesday, hitting $41.78. The company's stock had a trading volume of 1,022,075 shares, compared to its average volume of 1,269,387. The firm's 50-day moving average is $41.85 and its 200-day moving average is $39.45. 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 12 month low of $32.06 and a 12 month high of $44.41. The company has a market cap of $8.40 billion, a PE ratio of 21.65, a P/E/G ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE - Get Free Report) 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 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 period in the previous year, the company earned $1.20 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 4.03%. OGE Energy's payout ratio is 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now owns 20,918 shares of the company's stock, 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 SEC, which is available at this link. 0.53% of the stock is owned by insiders.

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.