OGE Energy Corporation $OGE Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its stake in OGE Energy Corporation (NYSE:OGE) by 50.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,918 shares of the utilities provider’s stock after selling 12,203 shares during the period. Elo Mutual Pension Insurance Co’s holdings in OGE Energy were worth $529,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of OGE Energy by 427.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 632 shares during the period. Clearstead Trust LLC purchased a new position in OGE Energy in the first quarter valued at $42,000. Brooklyn Investment Group raised its position in shares of OGE Energy by 725.5% in the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 798 shares during the period. Tompkins Financial Corp raised its position in shares of OGE Energy by 42.9% in the second quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 300 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in shares of OGE Energy during the 2nd quarter worth about $51,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $45.78 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy Corporation has a 1 year low of $39.41 and a 1 year high of $47.33. The firm has a market capitalization of $9.22 billion, a PE ratio of 18.39, a P/E/G ratio of 3.08 and a beta of 0.60. The business’s 50 day moving average price is $45.34 and its 200-day moving average price is $44.79.

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

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given 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 dividend on an annualized basis and a yield of 3.7%. OGE Energy’s dividend payout ratio (DPR) is presently 68.27%.

Analyst Ratings Changes

OGE has been the subject of a number of analyst reports. Barclays upped their price target on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Jefferies Financial Group upped their target price on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Royal Bank Of Canada raised shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

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.