OLD Republic International Corp Sells 894,000 Shares of OGE Energy Corp. (NYSE:OGE)

OLD Republic International Corp reduced its holdings in OGE Energy Corp. (NYSE:OGE – Get Rating) by 50.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 862,500 shares of the utilities provider’s stock after selling 894,000 shares during the quarter. OLD Republic International Corp owned 0.43% of OGE Energy worth $31,447,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in OGE Energy by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 20,674,150 shares of the utilities provider’s stock valued at $753,780,000 after buying an additional 294,759 shares during the last quarter. State Street Corp raised its position in OGE Energy by 1.5% in the 3rd quarter. State Street Corp now owns 7,122,492 shares of the utilities provider’s stock valued at $259,686,000 after buying an additional 103,185 shares during the last quarter. FMR LLC raised its position in OGE Energy by 2.6% in the 2nd quarter. FMR LLC now owns 6,955,827 shares of the utilities provider’s stock valued at $268,217,000 after buying an additional 173,657 shares during the last quarter. ClearBridge Investments Ltd acquired a new stake in OGE Energy in the 2nd quarter valued at approximately $86,842,000. Finally, CI Investments Inc. raised its position in OGE Energy by 22.2% in the 3rd quarter. CI Investments Inc. now owns 2,245,626 shares of the utilities provider’s stock valued at $81,876,000 after buying an additional 408,058 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OGE has been the topic of a number of recent research reports. StockNews.com initiated coverage on OGE Energy in a research report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their target price on OGE Energy to $42.00 in a research report on Wednesday, December 14th. Guggenheim downgraded OGE Energy from a “buy” rating to a “neutral” rating and raised their price target for the company from $39.00 to $40.00 in a research note on Monday, January 23rd. UBS Group downgraded OGE Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $41.00 to $39.00 in a research note on Tuesday, February 28th. Finally, Bank of America downgraded OGE Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $41.00 to $39.00 in a research note on Friday, February 24th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.71.

Insider Transactions at OGE Energy

In other OGE Energy news, Director David L. Hauser bought 1,000 shares of OGE Energy stock in a transaction dated Tuesday, March 14th. The stock was bought at an average cost of $35.09 per share, for a total transaction of $35,090.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $105,270. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David L. Hauser purchased 1,000 shares of OGE Energy stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average cost of $35.09 per share, for a total transaction of $35,090.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $105,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David E. Rainbolt purchased 5,000 shares of OGE Energy stock in a transaction that occurred on Monday, February 27th. The stock was purchased at an average price of $36.65 per share, with a total value of $183,250.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $549,750. The disclosure for this purchase can be found here. In the last three months, insiders acquired 6,100 shares of company stock worth $221,925. 12.90% of the stock is owned by company insiders.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $35.70 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.58 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 stock has a 50 day moving average of $37.95 and a 200-day moving average of $38.43. The company has a market capitalization of $7.15 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.66 and a beta of 0.71.

OGE Energy (NYSE:OGE – Get Rating) last issued its earnings results on Thursday, February 23rd. The utilities provider reported $0.25 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.30. OGE Energy had a return on equity of 15.33% and a net margin of 19.72%. The company had revenue of $711.90 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, equities research analysts predict that OGE Energy Corp. will post 2.03 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Monday, April 10th will be paid a dividend of $0.4141 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.41. This represents a $1.66 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Thursday, April 6th. OGE Energy’s payout ratio is currently 50.15%.

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.