Inspire Investing LLC cut its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 61.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,817 shares of the utilities provider's stock after selling 39,478 shares during the period. Inspire Investing LLC's holdings in OGE Energy were worth $1,018,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised 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 acquiring an additional 278 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in OGE Energy by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider's stock valued at $342,000 after purchasing an additional 290 shares during the last quarter. Fifth Third Bancorp grew its holdings in OGE Energy by 3.2% during the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider's stock valued at $352,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. grew its holdings in OGE Energy by 12.8% during the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider's stock valued at $94,000 after purchasing an additional 312 shares during the period. Finally, Raymond James Trust N.A. increased its position in OGE Energy by 5.3% in the second quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider's stock worth $249,000 after buying an additional 352 shares during the last quarter. 71.84% of the stock is owned by institutional investors.
OGE Energy Stock Up 0.7 %
Shares of NYSE OGE traded up $0.28 during trading on Monday, reaching $40.12. The company had a trading volume of 936,621 shares, compared to its average volume of 1,305,635. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $41.48. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The business's 50-day moving average is $39.96 and its 200 day moving average is $37.17. The stock has a market cap of $8.05 billion, a PE ratio of 20.37, a P/E/G ratio of 3.56 and a beta of 0.74.
OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping 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 net margin of 14.83% and a return on equity of 9.15%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. As a group, equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.
OGE Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be given a $0.4213 dividend. This is a boost from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.20%. OGE Energy's dividend payout ratio is presently 85.28%.
Wall Street Analysts Forecast Growth
OGE has been the subject of a number of research reports. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 target price for the company. Evercore ISI increased 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. Finally, Barclays lifted their price target on OGE Energy from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, OGE Energy has an average rating of "Hold" and a consensus target price of $38.80.
View Our Latest Stock Report on OGE
About OGE Energy
(
Free Report)
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.
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