OGE Energy Corp. (NYSE:OGE) Stock Position Cut by BancFirst Trust & Investment Management

BancFirst Trust & Investment Management decreased its position in OGE Energy Corp. (NYSE:OGE) by 8.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,708 shares of the utilities provider’s stock after selling 6,008 shares during the period. OGE Energy comprises 0.9% of BancFirst Trust & Investment Management’s investment portfolio, making the stock its 10th biggest position. BancFirst Trust & Investment Management’s holdings in OGE Energy were worth $2,602,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OGE. Verity & Verity LLC grew its stake in OGE Energy by 0.7% in the 2nd quarter. Verity & Verity LLC now owns 484,136 shares of the utilities provider’s stock valued at $17,284,000 after acquiring an additional 3,568 shares during the period. Kimelman & Baird LLC acquired a new position in shares of OGE Energy during the second quarter valued at approximately $38,000. B. Riley Wealth Advisors Inc. lifted its position in shares of OGE Energy by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 290 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of OGE Energy by 13.5% in the second quarter. NewEdge Advisors LLC now owns 36,577 shares of the utilities provider’s stock worth $1,306,000 after acquiring an additional 4,358 shares during the last quarter. Finally, Creative Planning increased its position in shares of OGE Energy by 24.7% during the second quarter. Creative Planning now owns 116,293 shares of the utilities provider’s stock worth $4,152,000 after purchasing an additional 23,016 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OGE shares. Evercore ISI boosted their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Barclays upped their price target on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.86.

OGE Energy Trading Up 0.3 %

OGE opened at $41.23 on Thursday. The business has a fifty day simple moving average of $39.68 and a 200-day simple moving average of $36.77. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $41.48. The firm has a market cap of $8.28 billion, a P/E ratio of 20.93, a P/E/G ratio of 3.64 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.09%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 84.77%.

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.