Truist Financial Corp Sells 2,084 Shares of OGE Energy Corp. (NYSE:OGE)

Truist Financial Corp lowered its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 9.0% in the second quarter, Holdings Channel.com reports. The fund owned 21,161 shares of the utilities provider’s stock after selling 2,084 shares during the quarter. Truist Financial Corp’s holdings in OGE Energy were worth $755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ICA Group Wealth Management LLC bought a new position in OGE Energy in the 4th quarter worth about $194,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of OGE Energy by 20.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 11,207 shares of the utilities provider’s stock valued at $391,000 after purchasing an additional 1,918 shares during the period. Kapitalo Investimentos Ltda bought a new position in OGE Energy in the fourth quarter worth approximately $399,000. Mather Group LLC. purchased a new position in OGE Energy during the 1st quarter worth $77,000. Finally, Rockland Trust Co. raised its position in OGE Energy by 2.3% during the 1st quarter. Rockland Trust Co. now owns 31,610 shares of the utilities provider’s stock valued at $1,084,000 after purchasing an additional 697 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE stock opened at $40.12 on Tuesday. The stock has a market cap of $8.05 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 3.56 and a beta of 0.74. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $41.48. The business has a 50-day simple moving average of $39.96 and a 200-day simple moving average of $37.17. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

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

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.20%. OGE Energy’s dividend payout ratio (DPR) is 85.28%.

Wall Street Analyst Weigh In

OGE has been the topic of several research reports. Jefferies Financial Group initiated coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI boosted their price target 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 upped their price objective on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.80.

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.