Connor Clark & Lunn Investment Management Ltd. Sells 16,883 Shares of OGE Energy Corporation $OGE

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of OGE Energy Corporation (NYSE:OGE) by 59.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,742 shares of the utilities provider’s stock after selling 16,883 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in OGE Energy were worth $521,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in 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 last quarter. Clearstead Trust LLC bought a new position in shares of OGE Energy during the 1st quarter valued at $42,000. Brooklyn Investment Group boosted its stake in shares of 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 last quarter. Tompkins Financial Corp boosted its stake in shares of OGE Energy by 42.9% in the 2nd 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 worth $55,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Trading Down 0.1%

OGE Energy stock opened at $44.09 on Thursday. The firm has a 50 day moving average of $45.22 and a 200 day moving average of $44.76. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 3.08 and a beta of 0.60. OGE Energy Corporation has a 12-month low of $39.41 and a 12-month high of $47.33. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

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

OGE Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OGE. Jefferies Financial Group increased their target price on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Mizuho boosted their target price on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Finally, UBS Group lifted their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

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.