Truist Financial Corp lessened its stake in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,316 shares of the utilities provider’s stock after selling 3,872 shares during the quarter. Truist Financial Corp’s holdings in OGE Energy were worth $1,069,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System boosted its position in shares of OGE Energy by 8.3% during the 2nd quarter. New York State Teachers Retirement System now owns 270,860 shares of the utilities provider’s stock worth $10,444,000 after purchasing an additional 20,785 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of OGE Energy in the 3rd quarter worth about $1,943,000. M&T Bank Corp raised its holdings in shares of OGE Energy by 112.5% in the 2nd quarter. M&T Bank Corp now owns 14,589 shares of the utilities provider’s stock worth $358,000 after acquiring an additional 7,722 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of OGE Energy by 121.9% in the 2nd quarter. NewEdge Advisors LLC now owns 27,842 shares of the utilities provider’s stock worth $1,074,000 after acquiring an additional 15,296 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of OGE Energy by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 276,175 shares of the utilities provider’s stock worth $10,649,000 after acquiring an additional 5,260 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Guggenheim lowered their target price on shares of OGE Energy from $43.00 to $38.00 in a report on Monday, October 24th. StockNews.com upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 3rd. Credit Suisse Group lowered their target price on shares of OGE Energy to $36.00 in a report on Thursday, October 27th. Mizuho decreased their price objective on shares of OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 13th. Finally, Wells Fargo & Company increased their price objective on shares of OGE Energy to $42.00 in a research note on Wednesday, December 14th. Four equities research 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 presently has a consensus rating of “Hold” and a consensus price target of $38.20.
Insider Transactions at OGE Energy
In related news, VP Cristina F. Mcquistion sold 3,067 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $38.23, for a total value of $117,251.41. Following the completion of the transaction, the vice president now directly owns 22,485 shares of the company’s stock, valued at approximately $859,601.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.90% of the stock is currently owned by company insiders.
OGE Energy Trading Down 2.0 %
Shares of OGE stock opened at $37.98 on Friday. The company has a 50 day moving average of $39.56 and a 200-day moving average of $39.20. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 0.80. OGE Energy Corp. has a 12-month low of $33.28 and a 12-month high of $42.91. The firm has a market cap of $7.60 billion, a P/E ratio of 8.17, a PEG ratio of 3.87 and a beta of 0.69.
OGE Energy (NYSE:OGE – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. OGE Energy had a net margin of 28.80% and a return on equity of 15.74%. The company had revenue of $1.27 billion during the quarter. Sell-side analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current year.
OGE Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Monday, January 9th will be paid a dividend of $0.414 per share. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.66 annualized dividend and a dividend yield of 4.36%. OGE Energy’s payout ratio is currently 35.70%.
About OGE Energy
OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.
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