Mather Group LLC. Lowers Stock Position in OGE Energy Corp. (NYSE:OGE)

Mather Group LLC. decreased its holdings in OGE Energy Corp. (NYSE:OGE) by 62.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,337 shares of the utilities provider’s stock after selling 2,210 shares during the quarter. Mather Group LLC.’s holdings in OGE Energy were worth $55,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its stake in OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 656 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of OGE Energy during the second quarter worth approximately $35,000. Voisard Asset Management Group Inc. acquired a new stake in shares of OGE Energy during the fourth quarter worth $36,000. Kimelman & Baird LLC purchased a new position in OGE Energy in the 2nd quarter valued at $38,000. Finally, Allspring Global Investments Holdings LLC grew its position in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after buying an additional 278 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $39.84 on Monday. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 3.56 and a beta of 0.74. 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 business’s 50 day simple moving average is $39.93 and its 200-day simple moving average is $37.13. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $41.48.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is 85.28%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI raised their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Barclays boosted their target price on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.80.

OGE Energy Company 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.