OGE Energy Corp. (NYSE:OGE) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 23.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,744 shares of the utilities provider’s stock after selling 29,828 shares during the period. Amalgamated Bank’s holdings in OGE Energy were worth $3,927,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. ClearBridge Investments Ltd boosted its holdings in shares of OGE Energy by 2.7% in the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after buying an additional 150,797 shares during the period. Boston Partners lifted its position in shares of OGE Energy by 3.8% in the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after acquiring an additional 139,872 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in OGE Energy by 31.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after purchasing an additional 531,730 shares during the period. ProShare Advisors LLC grew its position in OGE Energy by 5.8% during the 1st quarter. ProShare Advisors LLC now owns 924,246 shares of the utilities provider’s stock worth $31,702,000 after purchasing an additional 50,390 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OGE has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI raised their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Finally, Barclays upped their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.40.

OGE Energy Trading Up 1.9 %

Shares of OGE stock opened at $42.92 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.36 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $42.96. The firm’s fifty day simple moving average is $40.53 and its 200 day simple moving average is $38.07. The firm has a market capitalization of $8.62 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 3.69 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $1.20 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.18 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.93%. OGE Energy’s payout ratio is currently 87.05%.

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.