Commonwealth Equity Services LLC Sells 8,272 Shares of OGE Energy Corp. (NYSE:OGE)

Commonwealth Equity Services LLC cut its stake in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 13.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 53,013 shares of the utilities provider’s stock after selling 8,272 shares during the period. Commonwealth Equity Services LLC’s holdings in OGE Energy were worth $1,932,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. CoreCap Advisors LLC bought a new stake in shares of OGE Energy during the 2nd quarter worth $27,000. Private Trust Co. NA purchased a new stake in OGE Energy during the second quarter valued at about $31,000. Ten Capital Wealth Advisors LLC bought a new stake in OGE Energy during the third quarter worth about $42,000. Quadrant Capital Group LLC boosted its holdings in shares of OGE Energy by 39.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,169 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 331 shares in the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in shares of OGE Energy during the 3rd quarter valued at about $75,000. Institutional investors own 67.78% of the company’s stock.

OGE Energy Trading Up 0.7 %

NYSE:OGE opened at $34.63 on Tuesday. The firm has a market capitalization of $6.93 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.66 and a beta of 0.71. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average of $38.11 and a 200 day moving average of $38.49. OGE Energy Corp. has a 52 week low of $33.28 and a 52 week high of $42.91.

OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.30. The firm had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $1.06 billion. OGE Energy had a net margin of 19.72% and a return on equity of 15.33%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, research analysts predict that OGE Energy Corp. will post 2.03 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 10th will be issued a $0.4141 dividend. The ex-dividend date is Thursday, April 6th. This represents a $1.66 annualized dividend and a yield of 4.78%. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. OGE Energy’s dividend payout ratio (DPR) is 50.15%.

Insider Transactions at OGE Energy

In other OGE Energy news, Director David E. Rainbolt bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was bought at an average price of $36.65 per share, for a total transaction of $183,250.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $549,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OGE shares. Bank of America downgraded OGE Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $41.00 to $39.00 in a research report on Friday, February 24th. Guggenheim lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $39.00 to $40.00 in a report on Monday, January 23rd. UBS Group lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $39.00 in a report on Tuesday, February 28th. Wells Fargo & Company lifted their target price on shares of OGE Energy to $42.00 in a research report on Wednesday, December 14th. Finally, StockNews.com lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 25th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.71.

About OGE Energy

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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.