OGE Energy Corp. (NYSE:OGE) Stake Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of OGE Energy Corp. (NYSE:OGEGet Rating) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,129 shares of the utilities provider’s stock after selling 3,051 shares during the period. Allspring Global Investments Holdings LLC’s holdings in OGE Energy were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OGE. National Bank of Canada FI bought a new stake in OGE Energy during the second quarter worth approximately $27,000. CoreCap Advisors LLC bought a new stake in OGE Energy during the second quarter worth approximately $27,000. Private Trust Co. NA bought a new stake in OGE Energy during the second quarter worth approximately $31,000. Total Clarity Wealth Management Inc. bought a new stake in OGE Energy during the second quarter worth approximately $36,000. Finally, Selective Wealth Management Inc. raised its holdings in OGE Energy by 102.5% during the second quarter. Selective Wealth Management Inc. now owns 2,025 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors own 67.78% of the company’s stock.

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 on Friday, November 11th. The shares were sold at an average price of $38.23, for a total transaction of $117,251.41. Following the sale, the vice president now directly owns 22,485 shares of the company’s stock, valued at approximately $859,601.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.90% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $38.36 on Monday. The company’s fifty day moving average is $39.56 and its two-hundred day moving average is $39.19. 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 Corp. has a 12-month low of $33.28 and a 12-month high of $42.91. The company has a market cap of $7.68 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.69.

OGE Energy (NYSE:OGEGet Rating) last announced its earnings results on Wednesday, November 2nd. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Monday, January 9th will be paid a dividend of $0.414 per share. This represents a $1.66 annualized dividend and a yield of 4.32%. The ex-dividend date is Friday, January 6th. OGE Energy’s dividend payout ratio (DPR) is currently 35.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OGE. StockNews.com raised OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 3rd. Guggenheim decreased their price target on shares of OGE Energy from $43.00 to $38.00 in a research report on Monday, October 24th. Credit Suisse Group decreased their price target on shares of OGE Energy to $36.00 in a research report on Thursday, October 27th. Wells Fargo & Company lifted their price target on shares of OGE Energy to $42.00 in a research report on Wednesday, December 14th. Finally, Mizuho decreased their price target on shares of OGE Energy from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, October 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.20.

OGE Energy Profile

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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.

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

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