Exchange Traded Concepts LLC Cuts Holdings in OGE Energy Corp. (NYSE:OGE)

Exchange Traded Concepts LLC decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,672 shares of the utilities provider’s stock after selling 710 shares during the period. Exchange Traded Concepts LLC’s holdings in OGE Energy were worth $766,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares in the last quarter. Victory Capital Management Inc. grew its position in OGE Energy by 198.1% in the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after acquiring an additional 194,839 shares in the last quarter. ClearBridge Investments Ltd grew its position in 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 acquiring an additional 150,797 shares in the last quarter. Boston Partners grew its position in OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after acquiring an additional 139,872 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in OGE Energy by 84.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 294,053 shares of the utilities provider’s stock worth $10,086,000 after acquiring an additional 134,377 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE Energy stock opened at $41.15 on Friday. The company has a 50 day moving average price of $40.10 and a 200-day moving average price of $37.32. 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 company has a market capitalization of $8.27 billion, a PE ratio of 20.17, a P/E/G ratio of 3.57 and a beta of 0.74.

OGE Energy (NYSE:OGE) last posted 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 net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group assumed coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Evercore ISI raised 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, Barclays raised their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six equities 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 has an average rating of “Hold” and an average price target of $38.80.

About OGE Energy

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.