Renaissance Technologies LLC Sells 279,700 Shares of OGE Energy Corp. (NYSE:OGE)

Renaissance Technologies LLC decreased its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 94.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,000 shares of the utilities provider's stock after selling 279,700 shares during the period. Renaissance Technologies LLC's holdings in OGE Energy were worth $571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. increased its position in shares of OGE Energy by 392.8% in 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 period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of OGE Energy in the 2nd quarter valued at approximately $35,000. Voisard Asset Management Group Inc. bought a new stake in shares of OGE Energy during the 4th quarter worth approximately $36,000. Allspring Global Investments Holdings LLC boosted its position in shares of OGE Energy by 23.1% during the 2nd 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 position in OGE Energy in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Trading Down 0.7 %

Shares of OGE traded down $0.28 during mid-day trading on Thursday, reaching $39.66. 974,556 shares of the company were exchanged, compared to its average volume of 1,311,514. The stock has a market capitalization of $7.95 billion, a PE ratio of 20.13, a PEG ratio of 3.67 and a beta of 0.74. The business has a 50 day simple moving average of $39.93 and a two-hundred day simple moving average of $37.04. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48.

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, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $662.60 million during the quarter, compared to analysts' expectations of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. OGE Energy's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. On average, analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 4.25%. OGE Energy's payout ratio is currently 85.28%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group initiated 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 raised their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, August 12th. Finally, Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a research note on Thursday, August 8th. Six 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.com, the company has a consensus rating of "Hold" and a consensus target price of $38.80.

OGE Energy Company 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.