OGE Energy Corporation $OGE Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in OGE Energy Corporation (NYSE:OGE) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 556,779 shares of the utilities provider’s stock after selling 15,936 shares during the period. ProShare Advisors LLC’s holdings in OGE Energy were worth $25,289,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OGE. Vise Technologies Inc. raised its stake in OGE Energy by 61.3% in the third quarter. Vise Technologies Inc. now owns 27,582 shares of the utilities provider’s stock valued at $1,253,000 after purchasing an additional 10,478 shares in the last quarter. MGO One Seven LLC lifted its position in OGE Energy by 3.1% during the third quarter. MGO One Seven LLC now owns 7,253 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 216 shares during the last quarter. International Assets Investment Management LLC lifted its position in OGE Energy by 135.1% during the third quarter. International Assets Investment Management LLC now owns 40,000 shares of the utilities provider’s stock valued at $1,817,000 after purchasing an additional 22,987 shares during the last quarter. Glenview Trust Co purchased a new position in OGE Energy in the 3rd quarter worth approximately $210,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in OGE Energy by 12.2% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 108,400 shares of the utilities provider’s stock worth $4,924,000 after buying an additional 11,800 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. BMO Capital Markets dropped their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Argus reiterated a “buy” rating on shares of OGE Energy in a research report on Wednesday, September 16th. Finally, Wells Fargo & Company increased their target price on OGE Energy from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus price target of $50.00.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $50.20 on Tuesday. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 2.93 and a beta of 0.50. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.59. The stock’s 50-day moving average is $46.61 and its 200 day moving average is $47.13.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.36 by $0.16. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. OGE Energy had a net margin of 16.36% and a return on equity of 11.11%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, sell-side analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were paid a $0.4288 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, October 5th. OGE Energy’s payout ratio is presently 64.91%.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.