John G Ullman & Associates Inc. Sells 5,916 Shares of OGE Energy Corporation $OGE

John G Ullman & Associates Inc. lessened its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 514,468 shares of the utilities provider’s stock after selling 5,916 shares during the quarter. OGE Energy makes up about 3.4% of John G Ullman & Associates Inc.’s portfolio, making the stock its 7th biggest holding. John G Ullman & Associates Inc.’s holdings in OGE Energy were worth $22,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in OGE Energy during the 1st quarter valued at about $31,000. First Command Advisory Services Inc. purchased a new stake in OGE Energy during the 1st quarter valued at about $36,000. Clearstead Trust LLC purchased a new stake in OGE Energy during the 1st quarter valued at about $42,000. Brooklyn Investment Group grew its stake in OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 798 shares in the last quarter. Finally, Tompkins Financial Corp grew its stake in OGE Energy by 42.9% during the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Finally, UBS Group raised their target price on OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

OGE Energy Stock Up 0.1%

Shares of NYSE:OGE opened at $46.47 on Friday. The business has a 50-day moving average price of $45.09 and a 200 day moving average price of $44.66. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 3.23 and a beta of 0.59. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $47.33.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The business had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share. Sell-side analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is 69.67%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.