OGE Energy Corp. (NYSE:OGE) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 23.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,744 shares of the utilities provider's stock after selling 29,828 shares during the period. Amalgamated Bank's holdings in OGE Energy were worth $3,927,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OGE. Donoghue Forlines LLC acquired a new stake in OGE Energy in the 1st quarter valued at about $656,000. Harbor Capital Advisors Inc. acquired a new position in OGE Energy during the 2nd quarter worth approximately $619,000. SG Americas Securities LLC boosted its holdings in shares of OGE Energy by 2,815.6% in the first quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider's stock valued at $4,154,000 after acquiring an additional 116,961 shares during the period. Wedge Capital Management L L P NC raised its position in OGE Energy by 6.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider's stock valued at $13,960,000 after purchasing an additional 22,899 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in OGE Energy in the first quarter valued at $640,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Price Performance

NYSE:OGE traded up $0.76 during trading hours on Friday, reaching $42.90. 1,517,626 shares of the company traded hands, compared to its average volume of 1,106,110. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.36. The firm's 50-day moving average is $40.53 and its 200-day moving average is $38.07. The stock has a market cap of $8.62 billion, a P/E ratio of 22.23, a P/E/G ratio of 3.69 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $42.96.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to analysts' expectations of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Equities research analysts expect that OGE Energy Corp. will post 2.18 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a $0.4213 dividend. This is a boost from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.93%. OGE Energy's payout ratio is 87.05%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OGE shares. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Barclays lifted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Finally, Evercore ISI upped their price target on OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $39.40.

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.