Dana Investment Advisors Inc. Has $2.67 Million Holdings in OGE Energy Corp. (NYSE:OGE)

Dana Investment Advisors Inc. trimmed its position in OGE Energy Corp. (NYSE:OGE) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,752 shares of the utilities provider’s stock after selling 1,947 shares during the quarter. Dana Investment Advisors Inc.’s holdings in OGE Energy were worth $2,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OGE. Pinnacle Bancorp Inc. raised its stake in shares of OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in OGE Energy in the second quarter worth about $35,000. Voisard Asset Management Group Inc. bought a new position in shares of OGE Energy during the 4th quarter worth approximately $36,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy during the second quarter valued at $38,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 278 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Up 0.3 %

Shares of NYSE:OGE opened at $41.23 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 3.64 and a beta of 0.74. The company has a 50 day moving average of $39.68 and a 200-day moving average of $36.77. OGE Energy Corp. has a one year low of $31.25 and a one year high of $41.48.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be issued a dividend of $0.4213 per share. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.09%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OGE. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Evercore ISI increased 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. Finally, Barclays raised their price objective 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus target price of $36.86.

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.