OGE Energy Corp. (NYSE:OGE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in OGE Energy Corp. (NYSE:OGE) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 833 shares of the utilities provider’s stock after selling 650 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in OGE Energy were worth $34,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of OGE Energy in the third quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in OGE Energy in the second quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new position in OGE Energy in the second quarter worth approximately $38,000. Gradient Investments LLC purchased a new position in OGE Energy in the second quarter worth approximately $68,000. Finally, Signaturefd LLC grew its position in OGE Energy by 21.6% in the second quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock worth $91,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI increased their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Barclays increased their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Six 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 an average price target of $39.40.

OGE Energy Trading Up 3.0 %

OGE opened at $41.03 on Wednesday. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48. The business has a fifty day simple moving average of $40.35 and a 200-day simple moving average of $37.95. The firm has a market cap of $8.24 billion, a P/E ratio of 20.11, a P/E/G ratio of 3.53 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million during 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%. OGE Energy’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. On average, equities analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 4.11%. OGE Energy’s dividend payout ratio (DPR) is 82.35%.

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.