OGE Energy Corp. (NYSE:OGE) Shares Sold by Verity & Verity LLC

Verity & Verity LLC cut its stake in OGE Energy Corp. (NYSE:OGE) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 476,502 shares of the utilities provider’s stock after selling 39,999 shares during the period. OGE Energy accounts for 1.8% of Verity & Verity LLC’s holdings, making the stock its 19th biggest holding. Verity & Verity LLC’s holdings in OGE Energy were worth $19,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in OGE Energy by 16.3% in the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after buying an additional 78,164 shares in the last quarter. PEAK6 Investments LLC bought a new position in shares of OGE Energy in the third quarter worth $783,000. Navellier & Associates Inc. bought a new position in shares of OGE Energy in the third quarter worth $785,000. BNP Paribas Financial Markets increased its holdings in shares of OGE Energy by 316.6% during the third quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock valued at $1,426,000 after purchasing an additional 26,411 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in OGE Energy by 83.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock worth $3,947,000 after purchasing an additional 43,529 shares during the period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Price Performance

NYSE:OGE opened at $42.61 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average price is $42.09 and its 200 day moving average price is $40.32. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41. The firm has a market cap of $8.56 billion, a P/E ratio of 22.08, a PEG ratio of 3.40 and a beta of 0.77.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.16 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.95%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays boosted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.67.

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.