AQR Capital Management LLC Sells 16,800 Shares of OGE Energy Corp. (NYSE:OGE)

AQR Capital Management LLC trimmed its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 4.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 388,709 shares of the utilities provider's stock after selling 16,800 shares during the period. AQR Capital Management LLC owned about 0.19% of OGE Energy worth $13,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ClearBridge Investments Ltd boosted its stake in shares of OGE Energy by 2.7% in the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider's stock worth $208,103,000 after buying an additional 150,797 shares during the last quarter. Boston Partners grew its stake in OGE Energy by 3.8% in the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider's stock valued at $130,878,000 after purchasing an additional 139,872 shares during the period. Dimensional Fund Advisors LP increased its position in shares of OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider's stock valued at $78,453,000 after purchasing an additional 531,730 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of OGE Energy by 5.8% during the 1st quarter. ProShare Advisors LLC now owns 924,246 shares of the utilities provider's stock worth $31,702,000 after purchasing an additional 50,390 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of OGE Energy by 16.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 892,712 shares of the utilities provider's stock worth $30,620,000 after buying an additional 123,659 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Performance

Shares of NYSE:OGE traded up $0.12 during trading on Wednesday, hitting $41.22. 846,218 shares of the company were exchanged, compared to its average volume of 1,328,044. OGE Energy Corp. has a 52-week low of $31.25 and a 52-week high of $41.48. The stock has a 50 day moving average of $39.68 and a 200 day moving average of $36.77. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The company has a market cap of $8.27 billion, a PE ratio of 20.92, a P/E/G ratio of 3.63 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $662.60 million for the quarter, compared to analysts' expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. As a group, equities research analysts predict that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be paid a dividend of $0.4213 per share. The ex-dividend date is Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 4.09%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's payout ratio is currently 85.28%.

Analysts Set New Price Targets

Several brokerages have commented on OGE. Barclays lifted their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, August 12th. Evercore ISI upped their price objective on OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $36.86.

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.