Rockefeller Capital Management L.P. Cuts Position in OGE Energy Corporation $OGE

Rockefeller Capital Management L.P. trimmed its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 10.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,434 shares of the utilities provider’s stock after selling 1,782 shares during the period. Rockefeller Capital Management L.P.’s holdings in OGE Energy were worth $685,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Morningstar Investment Management LLC bought a new stake in OGE Energy in the second quarter worth $391,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of OGE Energy in the 1st quarter worth about $385,000. First Citizens Bank & Trust Co. raised its position in shares of OGE Energy by 274.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock worth $783,000 after purchasing an additional 12,935 shares during the last quarter. Inspire Investing LLC boosted its stake in OGE Energy by 100.2% in the 1st quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock worth $1,482,000 after purchasing an additional 16,141 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in OGE Energy by 40.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock valued at $1,928,000 after purchasing an additional 12,430 shares during the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Price Performance

Shares of OGE opened at $45.54 on Thursday. The firm has a fifty day simple moving average of $45.28 and a two-hundred day simple moving average of $44.75. The firm has a market cap of $9.17 billion, a PE ratio of 18.29, a P/E/G ratio of 3.08 and a beta of 0.60. 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 released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share. On average, equities analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $0.425 per share. The ex-dividend date was Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is presently 68.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OGE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. Royal Bank Of Canada raised OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Mizuho increased their target price on OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. UBS Group boosted their price target on OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Wall Street Zen raised 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.75.

OGE Energy 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.