Martingale Asset Management L P Reduces Holdings in OGE Energy Corp. (NYSE:OGE)

Martingale Asset Management L P lessened its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 18.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 423,572 shares of the utilities provider's stock after selling 94,379 shares during the quarter. Martingale Asset Management L P owned approximately 0.21% of OGE Energy worth $17,375,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OGE. International Assets Investment Management LLC boosted its holdings in OGE Energy by 3,834.0% in the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider's stock worth $30,708,000 after buying an additional 729,579 shares during the period. Dimensional Fund Advisors LP boosted its stake in OGE Energy by 31.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider's stock worth $78,453,000 after purchasing an additional 531,730 shares during the period. Victory Capital Management Inc. grew its holdings in OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider's stock valued at $10,468,000 after buying an additional 194,839 shares in the last quarter. ClearBridge Investments Ltd increased its position in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider's stock valued at $208,103,000 after buying an additional 150,797 shares during the period. Finally, Boston Partners lifted its holdings in shares of OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider's stock worth $130,878,000 after buying an additional 139,872 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of NYSE OGE traded down $0.12 during mid-day trading on Friday, reaching $43.96. 447,600 shares of the company were exchanged, compared to its average volume of 1,284,468. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The company's 50 day moving average price is $41.44 and its 200 day moving average price is $38.88. The stock has a market capitalization of $8.83 billion, a PE ratio of 22.84, a PEG ratio of 3.98 and a beta of 0.74. 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 posted its quarterly earnings data 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 firm had revenue of $965.40 million during the quarter, compared to analysts' expectations of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. OGE Energy's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Sell-side analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a $0.4213 dividend. This is a boost from OGE Energy's previous quarterly dividend of $0.42. 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 3.83%. OGE Energy's dividend payout ratio is 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays boosted their price objective 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. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Finally, Evercore ISI boosted their target price 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. Five research 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, the stock has a consensus rating of "Hold" and a consensus target price of $40.50.

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.