AlphaQuest LLC Trims Position in OGE Energy Corporation $OGE

AlphaQuest LLC reduced its stake in shares of OGE Energy Corporation (NYSE:OGE) by 54.3% during the third quarter, Holdings Channel reports. The firm owned 31,618 shares of the utilities provider’s stock after selling 37,500 shares during the quarter. AlphaQuest LLC’s holdings in OGE Energy were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC boosted its holdings in shares of OGE Energy by 5,157.1% during the 2nd quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock valued at $33,000 after buying an additional 722 shares in the last quarter. State of Wyoming purchased a new position in OGE Energy in the 2nd quarter worth approximately $34,000. Golden State Wealth Management LLC raised its stake in shares of OGE Energy by 427.0% in the second quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 632 shares during the last quarter. Quent Capital LLC purchased a new position in OGE Energy in the 3rd quarter worth about $43,000. Finally, MTM Investment Management LLC purchased a new position in shares of OGE Energy during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE Energy stock opened at $43.68 on Friday. OGE Energy Corporation has a 1 year low of $40.80 and a 1 year high of $47.33. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.58 and a beta of 0.63. The firm has a 50-day moving average of $43.37 and a two-hundred day moving average of $44.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. On average, research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Monday, January 5th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, January 5th. OGE Energy’s payout ratio is presently 68.27%.

Analyst Ratings Changes

OGE has been the subject of several research analyst reports. Mizuho lifted their price objective on OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. BMO Capital Markets initiated coverage on shares of OGE Energy in a report on Tuesday, January 13th. They set a “market perform” rating and a $45.00 price target on the stock. Jefferies Financial Group boosted their price objective on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company downgraded shares of OGE Energy from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $45.00 to $39.00 in a report on Tuesday, January 20th. Finally, UBS Group dropped their price target on OGE Energy from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.13.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.