Los Angeles Capital Management & Equity Research Inc. trimmed its position in shares of OGE Energy Corp. (NYSE:OGE) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,716 shares of the utilities provider’s stock after selling 4,638 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.06% of OGE Energy worth $4,494,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of OGE Energy by 1.1% in the second quarter. BlackRock Inc. now owns 21,857,996 shares of the utilities provider’s stock valued at $760,438,000 after purchasing an additional 237,463 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of OGE Energy by 1.4% in the second quarter. Vanguard Group Inc. now owns 17,778,833 shares of the utilities provider’s stock valued at $618,525,000 after purchasing an additional 247,341 shares in the last quarter. FMR LLC lifted its holdings in shares of OGE Energy by 5.3% in the second quarter. FMR LLC now owns 4,861,415 shares of the utilities provider’s stock valued at $169,129,000 after purchasing an additional 245,953 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of OGE Energy by 4.3% in the third quarter. First Trust Advisors LP now owns 1,885,881 shares of the utilities provider’s stock valued at $67,948,000 after purchasing an additional 77,097 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of OGE Energy by 18.2% in the second quarter. Principal Financial Group Inc. now owns 1,315,175 shares of the utilities provider’s stock valued at $45,755,000 after purchasing an additional 202,440 shares in the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.
In other OGE Energy news, VP Patricia D. Horn sold 10,051 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.
OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.01). OGE Energy had a net margin of 16.69% and a return on equity of 10.92%. The firm had revenue of $716.80 million during the quarter, compared to analysts’ expectations of $728.18 million. During the same quarter last year, the company posted $0.92 earnings per share. OGE Energy’s revenue for the quarter was down 3.6% compared to the same quarter last year. research analysts forecast that OGE Energy Corp. will post 1.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.3325 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.33 dividend on an annualized basis and a yield of 3.90%. OGE Energy’s dividend payout ratio (DPR) is 69.63%.
A number of equities analysts have recently weighed in on the stock. Jefferies Group reissued a “hold” rating and issued a $37.00 price objective (up previously from $35.00) on shares of OGE Energy in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy in a research report on Friday, September 1st. Bank of America began coverage on shares of OGE Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $37.00 price target for the company. Finally, Wells Fargo & Company lowered shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target for the company. in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $36.67.
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About OGE Energy
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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