Truist Financial Corp Sells 3,872 Shares of OGE Energy Corp. (NYSE:OGE)

Truist Financial Corp trimmed its position in OGE Energy Corp. (NYSE:OGE – Get Rating) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,316 shares of the utilities provider’s stock after selling 3,872 shares during the period. Truist Financial Corp’s holdings in OGE Energy were worth $1,069,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OGE. National Bank of Canada FI bought a new position in OGE Energy in the 2nd quarter valued at $27,000. CoreCap Advisors LLC bought a new stake in shares of OGE Energy during the 2nd quarter worth $27,000. Private Trust Co. NA bought a new stake in shares of OGE Energy during the 2nd quarter worth $31,000. Total Clarity Wealth Management Inc. bought a new stake in shares of OGE Energy during the 2nd quarter worth $36,000. Finally, Wipfli Financial Advisors LLC bought a new stake in shares of OGE Energy during the 3rd quarter worth $75,000. 67.78% of the stock is owned by institutional investors.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 3,067 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $38.23, for a total value of $117,251.41. Following the transaction, the vice president now owns 22,485 shares in the company, valued at $859,601.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on OGE. StockNews.com raised shares of OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 3rd. Credit Suisse Group dropped their price objective on shares of OGE Energy to $36.00 in a report on Thursday, October 27th. Wells Fargo & Company lifted their price objective on shares of OGE Energy to $42.00 in a report on Wednesday, December 14th. Mizuho dropped their price objective on shares of OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, October 13th. Finally, Guggenheim decreased their target price on shares of OGE Energy from $43.00 to $38.00 in a research report on Monday, October 24th. Four investment 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, the company has an average rating of “Hold” and an average target price of $38.20.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $37.98 on Friday. The stock has a market cap of $7.60 billion, a PE ratio of 8.17, a PEG ratio of 3.87 and a beta of 0.69. The company’s fifty day moving average is $39.56 and its 200 day moving average is $39.20. OGE Energy Corp. has a 52 week low of $33.28 and a 52 week high of $42.91. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 0.80.

OGE Energy (NYSE:OGE – Get Rating) last issued its earnings results on Wednesday, November 2nd. The utilities provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. OGE Energy had a net margin of 28.80% and a return on equity of 15.74%. The company had revenue of $1.27 billion for the quarter. Research analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Monday, January 9th will be given a $0.414 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, January 6th. OGE Energy’s payout ratio is 35.70%.

About OGE Energy

(Get Rating)

OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.