PNC Financial Services Group Inc. Has $3.20 Million Holdings in OGE Energy Corp. (NYSE:OGE)

PNC Financial Services Group Inc. lessened its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,032 shares of the utilities provider's stock after selling 27,244 shares during the period. PNC Financial Services Group Inc.'s holdings in OGE Energy were worth $3,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OGE. International Assets Investment Management LLC grew its position in OGE Energy by 3,834.0% in the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider's stock valued at $30,708,000 after acquiring an additional 729,579 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider's stock valued at $78,453,000 after purchasing an additional 531,730 shares during the last quarter. Victory Capital Management Inc. increased its position in OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider's stock worth $10,468,000 after purchasing an additional 194,839 shares in the last quarter. ClearBridge Investments Ltd lifted its stake in OGE Energy by 2.7% in the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider's stock valued at $208,103,000 after purchasing an additional 150,797 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider's stock worth $130,878,000 after buying an additional 139,872 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OGE shares. Evercore ISI boosted their price objective 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. 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 for the company. Finally, Barclays boosted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, OGE Energy has an average rating of "Hold" and a consensus price target of $39.40.

OGE Energy Trading Up 0.1 %

OGE stock traded up $0.05 during trading on Monday, hitting $43.86. The company had a trading volume of 1,358,739 shares, compared to its average volume of 1,293,080. The stock has a market cap of $8.81 billion, a PE ratio of 22.72, a PEG ratio of 3.94 and a beta of 0.74. The business has a 50-day moving average of $41.17 and a 200-day moving average of $38.70. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.33.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 earnings per share. Research analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.84%. OGE Energy's dividend payout ratio is presently 87.05%.

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.