Verity & Verity LLC Sells 39,999 Shares of OGE Energy Corp. (NYSE:OGE)

Verity & Verity LLC lowered its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 476,502 shares of the utilities provider's stock after selling 39,999 shares during the quarter. OGE Energy accounts for about 1.8% of Verity & Verity LLC's portfolio, making the stock its 19th biggest position. Verity & Verity LLC owned about 0.24% of OGE Energy worth $19,656,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy in the 3rd quarter valued at about $30,000. Kimelman & Baird LLC acquired a new position in OGE Energy in the 2nd quarter valued at $38,000. Fortitude Family Office LLC bought a new position in OGE Energy during the 3rd quarter worth $63,000. Wilmington Savings Fund Society FSB acquired a new stake in OGE Energy in the 3rd quarter worth about $134,000. Finally, Blue Trust Inc. raised its position in shares of OGE Energy by 45.1% in the third quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider's stock valued at $163,000 after buying an additional 1,236 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Separately, Barclays increased their price objective 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, OGE Energy has a consensus rating of "Hold" and a consensus price target of $42.67.

OGE Energy Price Performance

OGE Energy stock traded up $0.24 during midday trading on Friday, reaching $42.61. The company's stock had a trading volume of 751,004 shares, compared to its average volume of 864,038. The stock has a market cap of $8.56 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 3.40 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 52 week low of $32.06 and a 52 week high of $44.41. The business has a 50-day moving average price of $42.09 and a 200-day moving average price of $40.36.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that OGE Energy Corp. will post 2.16 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 3.95%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy's dividend payout ratio is currently 87.05%.

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.