SG Americas Securities LLC Sells 34,288 Shares of OGE Energy Corporation $OGE

SG Americas Securities LLC decreased its position in shares of OGE Energy Corporation (NYSE:OGE) by 37.1% in the second quarter, Holdings Channel reports. The fund owned 58,202 shares of the utilities provider’s stock after selling 34,288 shares during the period. SG Americas Securities LLC’s holdings in OGE Energy were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Golden State Wealth Management LLC increased its stake in shares of OGE Energy by 427.0% in the second quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 632 shares during the period. Clearstead Trust LLC bought a new position in OGE Energy in the 1st quarter worth approximately $42,000. Brooklyn Investment Group increased its position in OGE Energy by 725.5% in the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock worth $42,000 after buying an additional 798 shares during the period. Tompkins Financial Corp lifted its holdings in shares of OGE Energy by 42.9% during the second quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock worth $44,000 after buying an additional 300 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in shares of OGE Energy in the first quarter valued at approximately $55,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. UBS Group boosted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Mizuho boosted their price target on OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Jefferies Financial Group raised their price objective on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $44.05 on Wednesday. The firm has a market cap of $8.87 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60. The firm’s 50-day simple moving average is $45.22 and its 200-day simple moving average is $44.76. OGE Energy Corporation has a twelve month low of $39.41 and a twelve month high of $47.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, research analysts expect that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.9%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 6th. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

About OGE Energy

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.