Principal Financial Group Inc. lowered its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 30.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 464,927 shares of the utilities provider's stock after selling 202,860 shares during the quarter. Principal Financial Group Inc. owned 0.23% of OGE Energy worth $19,071,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in OGE Energy during the third quarter worth about $30,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy in the 2nd quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC lifted 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 valued at $53,000 after buying an additional 278 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of OGE Energy in the third quarter valued at approximately $63,000. Finally, Signaturefd LLC grew its holdings in OGE Energy by 21.6% during the second quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider's stock worth $91,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.
OGE Energy Price Performance
Shares of OGE stock traded down $0.07 during mid-day trading on Friday, reaching $41.30. The stock had a trading volume of 423,997 shares, compared to its average volume of 1,267,433. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.41. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $42.02 and a 200 day simple moving average of $39.69. The company has a market cap of $8.30 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77.
OGE Energy (NYSE:OGE - Get Free Report) last announced 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). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current year.
OGE Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 4.08%. The ex-dividend date is Monday, January 6th. OGE Energy's payout ratio is 87.05%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 target price for the company. Barclays raised their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, OGE Energy currently has a consensus rating of "Hold" and a consensus price target of $40.50.
Get Our Latest Stock Analysis on OGE
Insider Transactions at OGE Energy
In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company's stock, valued at $896,127.12. This trade represents a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company's stock.
OGE Energy Company Profile
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Free Report)
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.
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