Wedge Capital Management L L P NC Lowers Stock Position in OGE Energy Corp. (NYSE:OGE)

Wedge Capital Management L L P NC lessened its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,911 shares of the utilities provider's stock after selling 44,116 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of OGE Energy worth $14,230,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Pinnacle Bancorp Inc. raised its holdings in shares of OGE Energy by 392.8% in the 1st 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. bought a new stake in shares of OGE Energy in the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy in the 2nd quarter worth approximately $38,000. Allspring Global Investments Holdings LLC raised its holdings in shares of OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Gradient Investments LLC bought a new stake in shares of OGE Energy in the 2nd quarter worth approximately $68,000. Institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays lifted their price target on shares of OGE Energy from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. 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, Jefferies Financial Group assumed coverage on OGE Energy in a research note on Thursday, September 19th. They set a "buy" rating and a $46.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $38.80.

OGE Energy Price Performance

Shares of OGE Energy stock traded up $0.52 on Tuesday, reaching $40.63. The stock had a trading volume of 924,511 shares, compared to its average volume of 1,303,720. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $41.48. The company has a market cap of $8.15 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 3.56 and a beta of 0.74. 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 business's 50 day moving average is $39.96 and its two-hundred day moving average is $37.17.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results 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. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be paid a $0.4213 dividend. 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 yield of 4.15%. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy's dividend payout ratio (DPR) is currently 85.28%.

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.