Thrivent Financial for Lutherans Sells 38,072 Shares of OGE Energy Corp. (NYSE:OGE)

Thrivent Financial for Lutherans trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 43.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,220 shares of the utilities provider's stock after selling 38,072 shares during the quarter. Thrivent Financial for Lutherans' holdings in OGE Energy were worth $1,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in OGE. Pinnacle Bancorp Inc. lifted its stake in OGE Energy by 392.8% during the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider's stock worth $28,000 after purchasing an additional 656 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in OGE Energy in the second quarter worth approximately $35,000. Voisard Asset Management Group Inc. purchased a new stake in OGE Energy in the fourth quarter worth approximately $36,000. Allspring Global Investments Holdings LLC raised its stake in shares of OGE Energy by 23.1% during the second 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, Gradient Investments LLC bought a new stake in shares of OGE Energy in the 2nd quarter worth approximately $68,000. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OGE has been the topic of a number of recent research reports. Barclays raised their price objective on OGE Energy from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, August 12th. Evercore ISI boosted 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. Finally, Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, OGE Energy has a consensus rating of "Hold" and a consensus target price of $36.86.

OGE Energy Trading Down 0.7 %

NYSE OGE traded down $0.29 during trading on Thursday, hitting $40.93. The company had a trading volume of 455,013 shares, compared to its average volume of 1,323,473. The company's fifty day moving average is $39.75 and its 200-day moving average is $36.80. OGE Energy Corp. has a one year low of $31.59 and a one year high of $41.48. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74.

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

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be issued a dividend of $0.4213 per share. This is an increase from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Monday, October 7th. OGE Energy's dividend payout ratio is presently 84.77%.

OGE Energy Profile

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.