Cetera Investment Advisers Sells 3,057 Shares of OGE Energy Corp. (NYSE:OGE)

Cetera Investment Advisers reduced its stake in OGE Energy Corp. (NYSE:OGE) by 5.3% during the second quarter, Holdings Channel.com reports. The fund owned 54,923 shares of the utilities provider’s stock after selling 3,057 shares during the quarter. Cetera Investment Advisers’ holdings in OGE Energy were worth $1,961,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. boosted its holdings in shares of OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy during the 2nd quarter worth $35,000. Voisard Asset Management Group Inc. purchased a new position in shares of OGE Energy during the fourth quarter valued at $36,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy in the second quarter valued at about $38,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in OGE Energy by 23.1% in the second 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 Trading Up 0.5 %

Shares of NYSE:OGE opened at $39.84 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The firm has a market capitalization of $7.99 billion, a P/E ratio of 20.22, a P/E/G ratio of 3.56 and a beta of 0.74. The business’s 50-day moving average is $39.93 and its 200 day moving average is $37.13. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $41.48.

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

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 4.23%. OGE Energy’s dividend payout ratio (DPR) is currently 85.28%.

Analyst Ratings Changes

A number of research firms have commented on OGE. Barclays raised their target price on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Evercore ISI boosted their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $38.80.

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.