Mitsubishi UFJ Trust & Banking Corp Sells 5,871 Shares of OGE Energy Corp. (NYSE:OGE)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGEGet Rating) by 73.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,069 shares of the utilities provider’s stock after selling 5,871 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in OGE Energy were worth $79,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its stake in shares of OGE Energy by 8.3% during the second quarter. New York State Teachers Retirement System now owns 270,860 shares of the utilities provider’s stock valued at $10,444,000 after purchasing an additional 20,785 shares during the period. M&T Bank Corp increased its stake in shares of OGE Energy by 112.5% in the second quarter. M&T Bank Corp now owns 14,589 shares of the utilities provider’s stock worth $358,000 after acquiring an additional 7,722 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of OGE Energy by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 276,175 shares of the utilities provider’s stock valued at $10,649,000 after purchasing an additional 5,260 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in OGE Energy in the 2nd quarter worth about $251,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in OGE Energy by 5.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,496 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 800 shares in the last quarter. 67.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OGE shares. StockNews.com raised shares of OGE Energy from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. TheStreet raised OGE Energy from a “c+” rating to a “b” rating in a research report on Monday, August 22nd. Mizuho lowered their price target on OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, October 13th. Guggenheim cut their price objective on OGE Energy from $43.00 to $38.00 in a research report on Monday, October 24th. Finally, Credit Suisse Group reduced their price objective on shares of OGE Energy to $36.00 in a report on Thursday, October 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average target price of $37.67.

OGE Energy Stock Up 0.4 %

OGE stock opened at $39.69 on Friday. The company has a market capitalization of $7.95 billion, a P/E ratio of 8.54, a PEG ratio of 3.68 and a beta of 0.68. The firm has a 50 day simple moving average of $37.34 and a 200-day simple moving average of $38.99. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. OGE Energy Corp. has a twelve month low of $33.28 and a twelve month high of $42.91.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Tuesday, October 11th were given a $0.414 dividend. The ex-dividend date of this dividend was Friday, October 7th. This represents a $1.66 annualized dividend and a dividend yield of 4.17%. This is an increase from OGE Energy’s previous quarterly dividend of $0.41. OGE Energy’s payout ratio is presently 35.70%.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 3,067 shares of OGE Energy stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $38.23, for a total value of $117,251.41. Following the completion of the transaction, the vice president now directly owns 22,485 shares in the company, valued at $859,601.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.90% of the company’s stock.

OGE Energy Profile

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OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.

Further Reading

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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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