Walleye Capital LLC Sells 6,998 Shares of OGE Energy Corp. (NYSE:OGE)

Walleye Capital LLC trimmed its stake in OGE Energy Corp. (NYSE:OGE) by 56.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,469 shares of the utilities provider’s stock after selling 6,998 shares during the quarter. Walleye Capital LLC’s holdings in OGE Energy were worth $224,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in OGE Energy by 3,834.0% in the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after acquiring an additional 729,579 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after buying an additional 531,730 shares during the period. Victory Capital Management Inc. raised its stake in OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after buying an additional 194,839 shares during the period. ClearBridge Investments Ltd increased its position in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after acquiring an additional 150,797 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of OGE Energy during the third quarter valued at approximately $3,700,000. 71.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OGE has been the subject of a number of analyst reports. Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.50.

Insider Activity at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This trade represents a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by corporate insiders.

OGE Energy Trading Up 0.9 %

Shares of NYSE:OGE opened at $42.19 on Wednesday. The stock’s fifty day moving average price is $41.74 and its 200-day moving average price is $39.26. The company has a market cap of $8.48 billion, a P/E ratio of 21.86, a PEG ratio of 3.82 and a beta of 0.77. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s payout ratio is presently 87.05%.

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.