OGE Energy Corporation $OGE Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in OGE Energy Corporation (NYSE:OGE) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,220 shares of the utilities provider’s stock after selling 28,650 shares during the quarter. State of Alaska Department of Revenue’s holdings in OGE Energy were worth $10,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of OGE Energy in the 2nd quarter worth about $1,277,554,000. Dockside LLC bought a new position in OGE Energy in the 2nd quarter worth about $1,102,000. Royal Bank of Canada boosted its stake in OGE Energy by 89.4% in the 1st quarter. Royal Bank of Canada now owns 157,249 shares of the utilities provider’s stock worth $7,540,000 after purchasing an additional 74,242 shares in the last quarter. Jupiter Topco LLC bought a new position in OGE Energy in the 2nd quarter worth about $4,354,000. Finally, Bank of America Corp DE boosted its stake in OGE Energy by 10.5% in the 1st quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider’s stock worth $46,417,000 after purchasing an additional 91,696 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $47.03 on Friday. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 3.11 and a beta of 0.50. The business’s fifty day simple moving average is $46.19 and its two-hundred day simple moving average is $47.40. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Research analysts anticipate that OGE Energy Corporation will post 2.43 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a $0.4288 dividend. This represents a $1.72 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, October 5th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s dividend payout ratio is 75.77%.

Wall Street Analyst Weigh In

OGE has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on shares of OGE Energy from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 18th. Royal Bank Of Canada raised shares of OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $54.00 in a report on Wednesday, September 2nd. Argus reaffirmed a “buy” rating on shares of OGE Energy in a report on Wednesday, September 16th. BMO Capital Markets dropped their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Barclays increased their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.73.

Insider Buying and Selling

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

About OGE Energy

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), the company provides regulated electric utility services, including the generation, transmission, distribution and retail sale of electricity.

OG&E serves residential, commercial and industrial customers across Oklahoma and western Arkansas. Its operations include a portfolio of power-generation facilities and an electric transmission and distribution network supporting the communities and businesses within its service territory.

OGE Energy traces its utility operations to the founding of Oklahoma Gas and Electric in 1902.