Jane Street Group LLC Has $1.69 Million Stock Position in OGE Energy Corp. (NYSE:OGE)

Jane Street Group LLC cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 80.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,145 shares of the utilities provider’s stock after selling 167,920 shares during the period. Jane Street Group LLC’s holdings in OGE Energy were worth $1,688,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in OGE Energy during the 3rd quarter worth approximately $30,000. Kimelman & Baird LLC bought a new stake in OGE Energy during the second quarter worth $38,000. Allspring Global Investments Holdings LLC grew its holdings in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in OGE Energy in the 3rd quarter valued at $63,000. Finally, Signaturefd LLC lifted its stake in OGE Energy by 21.6% during the 2nd quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 452 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OGE. Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Barclays upped their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.50.

OGE Energy Price Performance

OGE opened at $41.50 on Thursday. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.41. The firm has a 50-day moving average of $41.99 and a 200 day moving average of $39.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The firm has a market cap of $8.34 billion, a P/E ratio of 21.50, a PEG ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. On average, research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 4.06%. 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.