Envestnet Asset Management Inc. Sells 7,926 Shares of OGE Energy Corp. (NYSE:OGE)

Envestnet Asset Management Inc. reduced its holdings in OGE Energy Corp. (NYSE:OGE) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,754 shares of the utilities provider’s stock after selling 7,926 shares during the quarter. Envestnet Asset Management Inc.’s holdings in OGE Energy were worth $3,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OGE. Boston Partners grew its position in OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after acquiring an additional 139,872 shares in the last quarter. ProShare Advisors LLC increased its position in shares of OGE Energy by 5.8% during the 1st quarter. ProShare Advisors LLC now owns 924,246 shares of the utilities provider’s stock valued at $31,702,000 after purchasing an additional 50,390 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of OGE Energy by 16.1% during the 1st quarter. Miller Howard Investments Inc. NY now owns 892,712 shares of the utilities provider’s stock valued at $30,620,000 after buying an additional 123,659 shares in the last quarter. Principal Financial Group Inc. lifted its position in OGE Energy by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 754,113 shares of the utilities provider’s stock worth $25,866,000 after buying an additional 18,794 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in OGE Energy by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 401,073 shares of the utilities provider’s stock worth $13,757,000 after buying an additional 24,898 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE Energy stock opened at $40.93 on Friday. OGE Energy Corp. has a 1-year low of $31.59 and a 1-year high of $41.48. The firm has a market cap of $8.22 billion, a P/E ratio of 20.78, a P/E/G ratio of 3.64 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The firm has a 50-day moving average of $39.75 and a 200-day moving average of $36.80.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Sell-side analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 4.12%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is currently 84.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OGE shares. Barclays boosted their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Evercore ISI lifted their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.86.

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.