Commerce Bank Lowers Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Commerce Bank reduced its position in OGE Energy Corp. (NYSE:OGE) by 1.9% in the 3rd quarter, Holdings Channel reports. The fund owned 30,158 shares of the utilities provider’s stock after selling 577 shares during the period. Commerce Bank’s holdings in OGE Energy were worth $1,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC grew its stake in OGE Energy by 118.3% in the 3rd quarter. Prospera Private Wealth LLC now owns 49,133 shares of the utilities provider’s stock worth $2,015,000 after acquiring an additional 26,627 shares during the period. Verity & Verity LLC grew its stake in OGE Energy by 0.8% in the 3rd quarter. Verity & Verity LLC now owns 516,501 shares of the utilities provider’s stock worth $21,187,000 after acquiring an additional 3,936 shares during the period. Quest Partners LLC purchased a new stake in OGE Energy in the 3rd quarter worth approximately $1,744,000. Natixis Advisors LLC grew its stake in OGE Energy by 12.5% in the 3rd quarter. Natixis Advisors LLC now owns 72,751 shares of the utilities provider’s stock worth $2,984,000 after acquiring an additional 8,060 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in OGE Energy in the 3rd quarter worth approximately $236,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

OGE Energy Stock Performance

NYSE:OGE opened at $43.81 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.94 and a beta of 0.74. The firm’s fifty day simple moving average is $41.17 and its 200 day simple moving average is $38.70. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.33.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, equities research analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued 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 of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.85%. OGE Energy’s payout ratio is presently 87.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OGE shares. Evercore ISI lifted 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. Jefferies Financial Group started coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Barclays lifted their price target on shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average target price 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.