Cristina F. Mcquistion Sells 5,008 Shares of OGE Energy Corp. (NYSE:OGE) Stock

OGE Energy Corp. (NYSE:OGE) VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

OGE Energy Trading Up 2.4 %

Shares of OGE Energy stock opened at $42.79 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The company has a market capitalization of $8.60 billion, a P/E ratio of 22.17, a PEG ratio of 3.86 and a beta of 0.74. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.09. The company’s fifty day moving average is $40.85 and its two-hundred day moving average is $38.37.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned $1.20 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.94%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Hedge Funds Weigh In On OGE Energy

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of OGE Energy by 3,834.0% in the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after acquiring an additional 729,579 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares during the period. Verition Fund Management LLC boosted its holdings in OGE Energy by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after purchasing an additional 265,115 shares in the last quarter. Victory Capital Management Inc. increased its position in OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after purchasing an additional 194,839 shares during the period. Finally, State Street Corp lifted its holdings in shares of OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after buying an additional 185,069 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OGE shares. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Barclays raised their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and an average price target of $39.40.

About OGE Energy

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.