Xponance Inc. Sells 2,256 Shares of OGE Energy Corp. (NYSE:OGE)

Xponance Inc. trimmed its position in shares of OGE Energy Corp. (NYSE:OGE) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,594 shares of the utilities provider’s stock after selling 2,256 shares during the period. Xponance Inc.’s holdings in OGE Energy were worth $771,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Corient Private Wealth LLC bought a new position in shares of OGE Energy during the 4th quarter worth about $491,000. US Bancorp DE lifted its stake in OGE Energy by 9.9% during the fourth quarter. US Bancorp DE now owns 24,434 shares of the utilities provider’s stock worth $853,000 after purchasing an additional 2,197 shares during the period. TD Asset Management Inc acquired a new stake in OGE Energy during the fourth quarter valued at approximately $1,965,000. Treasurer of the State of North Carolina grew its stake in shares of OGE Energy by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 91,491 shares of the utilities provider’s stock valued at $3,196,000 after purchasing an additional 885 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in shares of OGE Energy by 29,761.5% in the 4th quarter. TFO Wealth Partners LLC now owns 3,882 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 3,869 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of OGE stock opened at $40.84 on Friday. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $41.48. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $39.54 and its 200-day moving average is $36.62. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.65 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Sell-side analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 4.13%. OGE Energy’s dividend payout ratio is presently 85.28%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OGE shares. Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Evercore ISI increased their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Finally, Barclays boosted their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Profile

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.