John G Ullman & Associates Inc. Sells 15,700 Shares of OGE Energy Corp. (NYSE:OGE)

John G Ullman & Associates Inc. trimmed its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,580 shares of the utilities provider's stock after selling 15,700 shares during the quarter. OGE Energy comprises 3.2% of John G Ullman & Associates Inc.'s portfolio, making the stock its 5th largest holding. John G Ullman & Associates Inc. owned about 0.27% of OGE Energy worth $22,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in OGE Energy in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy in the second quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new stake in OGE Energy in the second quarter worth approximately $38,000. Allspring Global Investments Holdings LLC lifted its position in OGE Energy by 23.1% in 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 period. Finally, Fortitude Family Office LLC acquired a new stake in OGE Energy in the third quarter worth approximately $63,000. 71.84% of the stock is owned by institutional investors.

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 shares were sold at an average price of $42.84, for a total value 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. This represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

OGE Energy Stock Up 1.6 %

Shares of OGE traded up $0.70 during mid-day trading on Thursday, reaching $43.81. The company's stock had a trading volume of 568,500 shares, compared to its average volume of 1,293,075. The business has a fifty day moving average of $41.04 and a 200 day moving average of $38.57. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.09. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE - Get Free Report) last released its 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). The business had revenue of $965.40 million during the quarter, compared to analysts' expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, analysts forecast that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on 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 increased their price objective on 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 increased their price objective on 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.