OGE Energy Corp. (NYSE:OGE) Shares Sold by BancFirst Trust & Investment Management

BancFirst Trust & Investment Management lowered its position in shares of OGE Energy Corp. (NYSE:OGE) by 8.6% during the third quarter, Holdings Channel reports. The firm owned 63,708 shares of the utilities provider’s stock after selling 6,008 shares during the quarter. OGE Energy makes up about 0.9% of BancFirst Trust & Investment Management’s portfolio, making the stock its 10th largest holding. BancFirst Trust & Investment Management’s holdings in OGE Energy were worth $2,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OGE. Pinnacle Bancorp Inc. increased its stake in OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in OGE Energy during the 2nd quarter worth approximately $35,000. Voisard Asset Management Group Inc. acquired a new stake in shares of OGE Energy in the 4th quarter valued at approximately $36,000. Kimelman & Baird LLC purchased a new position in OGE Energy in the second quarter worth $38,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OGE. Barclays boosted their price target on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Evercore ISI upped their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $41.23 on Thursday. The company has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $36.77. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The company has a market cap of $8.28 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $41.48.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 4.09%. OGE Energy’s payout ratio is currently 84.77%.

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.