PNC Financial Services Group Inc. Sells 3,795 Shares of OGE Energy Corp. (NYSE:OGE)

PNC Financial Services Group Inc. reduced its position in shares of OGE Energy Corp. (NYSE:OGE) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,736 shares of the utilities provider’s stock after selling 3,795 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of OGE Energy worth $4,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. Janney Montgomery Scott LLC raised its position in OGE Energy by 6.6% during the third quarter. Janney Montgomery Scott LLC now owns 17,704 shares of the utilities provider’s stock worth $590,000 after acquiring an additional 1,094 shares in the last quarter. Pathstone Family Office LLC bought a new stake in OGE Energy during the third quarter worth $390,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in OGE Energy during the third quarter worth $105,000. DekaBank Deutsche Girozentrale bought a new stake in OGE Energy during the third quarter worth $134,000. Finally, Kestra Advisory Services LLC raised its position in OGE Energy by 20.8% during the third quarter. Kestra Advisory Services LLC now owns 16,061 shares of the utilities provider’s stock worth $535,000 after acquiring an additional 2,765 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on OGE shares. Barclays upped their price target on shares of OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. TheStreet lowered shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Finally, Argus lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.60.

OGE Energy Price Performance

NYSE:OGE opened at $35.11 on Wednesday. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $37.30. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 3.30 and a beta of 0.74. The firm’s 50-day simple moving average is $35.20 and its 200 day simple moving average is $34.44. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The business had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. During the same period in the prior year, the business posted $0.19 earnings per share. OGE Energy’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be given a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Monday, July 8th. OGE Energy’s dividend payout ratio is 84.77%.

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.