OGE Energy Corp. (NYSE:OGE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,020,955 shares of the utilities provider's stock after selling 54,851 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.51% of OGE Energy worth $41,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OGE. Allspring Global Investments Holdings LLC lifted its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock valued at $53,000 after acquiring an additional 278 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of OGE Energy by 3.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider's stock worth $342,000 after purchasing an additional 290 shares in the last quarter. Centennial Wealth Advisory LLC lifted its holdings in shares of OGE Energy by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider's stock valued at $333,000 after purchasing an additional 300 shares during the last quarter. UMB Bank n.a. boosted its position in shares of OGE Energy by 5.3% in the 3rd quarter. UMB Bank n.a. now owns 7,694 shares of the utilities provider's stock worth $316,000 after purchasing an additional 390 shares in the last quarter. Finally, US Bancorp DE grew its stake in OGE Energy by 1.8% during the 3rd quarter. US Bancorp DE now owns 24,335 shares of the utilities provider's stock worth $998,000 after buying an additional 419 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares of the company's stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on OGE. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a "buy" rating and a $46.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $40.50.

OGE Energy Stock Performance

NYSE OGE traded down $1.42 on Monday, hitting $40.17. 1,039,729 shares of the company's stock traded hands, compared to its average volume of 896,026. The firm's 50-day moving average price is $42.07 and its two-hundred day moving average price is $39.97. The firm has a market capitalization of $8.07 billion, a PE ratio of 20.81, a P/E/G ratio of 3.80 and a beta of 0.77. 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 1-year low of $32.06 and a 1-year high of $44.41.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.19%. OGE Energy's payout ratio is 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.