Ceredex Value Advisors LLC Lowers Holdings in OGE Energy Corp. (NYSE:OGE)

Ceredex Value Advisors LLC lessened its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 20.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 394,687 shares of the utilities provider's stock after selling 102,400 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.20% of OGE Energy worth $16,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OGE. V Square Quantitative Management LLC bought a new stake in OGE Energy during the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in OGE Energy in the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new stake in OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC boosted its stake in shares of 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. Finally, Fortitude Family Office LLC purchased a new stake in shares of OGE Energy during the third quarter worth about $63,000. Institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on OGE shares. Barclays boosted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Evercore ISI increased their price target 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 began coverage on OGE Energy in a research note on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $39.40.

OGE Energy Trading Down 0.8 %

Shares of OGE Energy stock traded down $0.33 on Friday, reaching $39.66. The company had a trading volume of 2,549,335 shares, compared to its average volume of 860,642. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 3.56 and a beta of 0.74. 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 firm's 50-day moving average price is $40.31 and its two-hundred day moving average price is $37.78. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year 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 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. During the same period in the previous year, the firm earned $0.44 earnings per share. OGE Energy's quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 4.25%. The ex-dividend date was Monday, October 7th. This is an increase from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio is 82.35%.

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.