Allspring Global Investments Holdings LLC decreased its position in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes 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, Wipfli Financial Advisors LLC bought a new stake in OGE Energy during the third quarter worth approximately $75,000. Institutional investors own 67.78% of the company’s stock.
Insider Buying and Selling at OGE Energy
In other news, VP Cristina F. Mcquistion sold 3,067 shares of the company’s stock in a transaction on 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 directly owns 22,485 shares of the company’s stock, valued at $859,601.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.90% of the company’s stock.
OGE Energy Price Performance
OGE Energy (NYSE:OGE – Get 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. Credit Suisse Group dropped their target price on OGE Energy to $36.00 in a report on Thursday, October 27th. Guggenheim decreased their price target on shares of OGE Energy from $43.00 to $38.00 in a research report on Monday, October 24th. Wells Fargo & Company lifted their price target on shares of OGE Energy to $42.00 in a research report on Wednesday, December 14th. 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. Finally, StockNews.com upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 3rd. 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
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.
- Get a free copy of the StockNews.com research report on OGE Energy (OGE)
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