Cwm LLC Reduces Holdings in OGE Energy Corp. (NYSE:OGE)

Cwm LLC cut its stake in shares of OGE Energy Corp. (NYSE:OGEFree Report) by 13.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,753 shares of the utilities provider’s stock after selling 12,084 shares during the quarter. Cwm LLC’s holdings in OGE Energy were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in OGE Energy by 178.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of OGE Energy in the 4th quarter worth approximately $36,000. Advantage Trust Co bought a new position in shares of OGE Energy in the 4th quarter worth approximately $49,000. Headlands Technologies LLC raised its position in shares of OGE Energy by 441.9% in the 4th quarter. Headlands Technologies LLC now owns 1,436 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 1,171 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of OGE Energy in the 4th quarter worth approximately $66,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE traded down $0.02 during trading hours on Wednesday, reaching $35.11. 1,046,943 shares of the company traded hands, compared to its average volume of 1,194,714. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $37.30. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $7.04 billion, a P/E ratio of 17.82, a P/E/G ratio of 3.30 and a beta of 0.74. The business has a fifty day moving average price of $35.20 and a 200-day moving average price of $34.44.

OGE Energy (NYSE:OGEGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $607.37 million. During the same period in the previous year, the company posted $0.19 earnings per share. OGE Energy’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts anticipate that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be paid a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Monday, July 8th. OGE Energy’s payout ratio is currently 84.77%.

Analysts Set New Price Targets

OGE has been the topic of several recent analyst reports. StockNews.com upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays raised their price target on OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.60.

View Our Latest Analysis on OGE

About OGE Energy

(Free Report)

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.

See Also

Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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