IFM Investors Pty Ltd Sells 1,517 Shares of OGE Energy Corp. (NYSE:OGE)

IFM Investors Pty Ltd decreased its position in OGE Energy Corp. (NYSE:OGE) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,579 shares of the utilities provider’s stock after selling 1,517 shares during the period. IFM Investors Pty Ltd’s holdings in OGE Energy were worth $1,090,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy in the third quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in OGE Energy in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC purchased a new stake in OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC boosted its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Gradient Investments LLC purchased a new position in shares of OGE Energy in the second quarter worth about $68,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Down 1.2 %

OGE Energy stock opened at $40.47 on Monday. 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 fifty-two week low of $32.06 and a fifty-two week high of $41.48. The stock has a market cap of $8.12 billion, a P/E ratio of 20.54, a PEG ratio of 3.63 and a beta of 0.74. The firm’s fifty day moving average price is $40.26 and its 200-day moving average price is $37.60.

OGE Energy (NYSE:OGE) last released its quarterly 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. 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 last year, the firm posted $0.44 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 85.28%.

Analysts Set New Price Targets

A number of research firms recently weighed in on OGE. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Evercore ISI raised their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus price target of $39.40.

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.