Thrivent Financial for Lutherans Sells 1,266 Shares of OGE Energy Corp. (NYSE:OGE)

Thrivent Financial for Lutherans trimmed its position in OGE Energy Corp. (NYSE:OGE) by 2.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 48,954 shares of the utilities provider’s stock after selling 1,266 shares during the period. Thrivent Financial for Lutherans’ holdings in OGE Energy were worth $2,008,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of OGE. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy in the 2nd quarter valued at $38,000. Allspring Global Investments Holdings LLC lifted its stake in shares of OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of OGE Energy in the 3rd quarter valued at $63,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $44.08 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $41.36 and a two-hundred day moving average price of $38.84. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The company has a market cap of $8.86 billion, a P/E ratio of 22.84, a PEG ratio of 3.94 and a beta of 0.74.

OGE Energy (NYSE:OGE) last issued its quarterly 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). 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 analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts anticipate that OGE Energy Corp. will post 2.15 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OGE shares. Barclays raised their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group started coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Finally, Evercore ISI raised their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.50.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction dated 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 in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

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.