OGE Energy Corp. (NYSE:OGE) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lessened its stake in shares of OGE Energy Corp. (NYSE:OGE) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,075 shares of the utilities provider’s stock after selling 320 shares during the quarter. Avior Wealth Management LLC’s holdings in OGE Energy were worth $85,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OGE. V Square Quantitative Management LLC acquired a new stake in OGE Energy during the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy during the 2nd quarter valued at $35,000. Kimelman & Baird LLC acquired a new stake in OGE Energy during the 2nd quarter valued at $38,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of OGE Energy during the third quarter worth $63,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of 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 P/E ratio of 22.70, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The stock’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 issued 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 firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. On average, equities research analysts forecast that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. 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 report on Thursday, August 8th. Barclays raised their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, 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 objective on the stock. Six equities research 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 currently has an average rating of “Hold” and an average 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.