Envestnet Asset Management Inc. Sells 7,926 Shares of OGE Energy Corp. (NYSE:OGE)

Envestnet Asset Management Inc. lessened its stake in shares of OGE Energy Corp. (NYSE:OGE) by 7.7% in the second quarter, Holdings Channel reports. The institutional investor owned 94,754 shares of the utilities provider’s stock after selling 7,926 shares during the period. Envestnet Asset Management Inc.’s holdings in OGE Energy were worth $3,383,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after buying an additional 194,839 shares during the last quarter. Boston Partners boosted its stake in OGE Energy by 3.8% during the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after purchasing an additional 139,872 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of OGE Energy by 84.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 294,053 shares of the utilities provider’s stock worth $10,086,000 after purchasing an additional 134,377 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in shares of OGE Energy by 16.1% in the first quarter. Miller Howard Investments Inc. NY now owns 892,712 shares of the utilities provider’s stock worth $30,620,000 after purchasing an additional 123,659 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of OGE Energy by 147.5% during the first quarter. Jane Street Group LLC now owns 205,958 shares of the utilities provider’s stock valued at $7,064,000 after purchasing an additional 122,750 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Evercore ISI boosted their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays lifted their target price on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.86.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $40.93 on Friday. OGE Energy Corp. has a 12-month low of $31.59 and a 12-month high of $41.48. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. 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 has a 50 day moving average of $39.75 and a 200 day moving average of $36.80.

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

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a $0.4213 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 4.12%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

OGE Energy Company 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.