KBC Group NV Sells 3,371 Shares of OGE Energy Corporation $OGE

KBC Group NV decreased its position in OGE Energy Corporation (NYSE:OGE) by 38.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the utilities provider’s stock after selling 3,371 shares during the period. KBC Group NV’s holdings in OGE Energy were worth $244,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC increased its position in shares of OGE Energy by 0.3% during the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider’s stock valued at $3,304,000 after purchasing an additional 250 shares during the period. Tectonic Advisors LLC increased its holdings in OGE Energy by 2.0% in the 2nd quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider’s stock valued at $611,000 after buying an additional 272 shares during the period. IFM Investors Pty Ltd increased its holdings in OGE Energy by 2.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider’s stock valued at $644,000 after buying an additional 280 shares during the period. Parallel Advisors LLC raised its stake in shares of OGE Energy by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 9,304 shares of the utilities provider’s stock valued at $413,000 after buying an additional 289 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of OGE Energy by 4.7% during the 2nd quarter. Wedbush Securities Inc. now owns 6,389 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

NYSE OGE opened at $44.05 on Wednesday. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 3.08 and a beta of 0.60. The company has a 50 day moving average of $45.22 and a 200-day moving average of $44.76. 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 Corporation has a 1-year low of $39.41 and a 1-year high of $47.33.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OGE shares. UBS Group upped their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Mizuho upped their price objective on OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. Wells Fargo & Company upgraded OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently 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.