OGE Energy Corp. (NYSE:OGE) Stake Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in OGE Energy Corp. (NYSE:OGE) by 5.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,020,955 shares of the utilities provider’s stock after selling 54,851 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.51% of OGE Energy worth $41,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after buying an additional 729,579 shares during the period. 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 valued at $78,453,000 after acquiring an additional 531,730 shares in the last quarter. Verition Fund Management LLC boosted its position in OGE Energy by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after acquiring an additional 265,115 shares during the period. Victory Capital Management Inc. grew its stake in shares of OGE Energy by 198.1% in the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after purchasing an additional 194,839 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after purchasing an additional 185,069 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In related 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 transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OGE has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Barclays lifted their price target 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.50.

OGE Energy Trading Up 0.7 %

NYSE OGE opened at $41.59 on Monday. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 3.80 and a beta of 0.77. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.41. 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’s 50 day moving average price is $42.07 and its two-hundred day moving average price is $39.97.

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

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s dividend payout ratio is 87.05%.

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.