Elevated Capital Advisors LLC Trims Stock Position in OGE Energy Corp. (NYSE:OGE)

Elevated Capital Advisors LLC cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,367 shares of the utilities provider’s stock after selling 434 shares during the period. Elevated Capital Advisors LLC’s holdings in OGE Energy were worth $712,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of OGE Energy during the 3rd quarter worth approximately $30,000. Pinnacle Bancorp Inc. raised its stake in shares of OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after buying an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of OGE Energy during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the 2nd quarter worth approximately $38,000. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 worth $53,000 after acquiring an additional 278 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $41.02 on Thursday. The business’s fifty day moving average price is $40.19 and its two-hundred day moving average price is $37.48. The stock has a market cap of $8.24 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 3.67 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy Corp. has a one year low of $32.06 and a one year high of $41.48.

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

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be issued a dividend of $0.4213 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 4.11%. OGE Energy’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analyst Weigh In

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