Sei Investments Co. cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 69.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,199 shares of the utilities provider’s stock after selling 32,023 shares during the quarter. Sei Investments Co.’s holdings in OGE Energy were worth $501,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of OGE. Winslow Evans & Crocker Inc. bought a new stake in OGE Energy in the 2nd quarter worth about $100,000. Sigma Planning Corp bought a new stake in OGE Energy in the 2nd quarter worth about $205,000. BerganKDV Wealth Management LLC bought a new stake in OGE Energy in the 2nd quarter worth about $213,000. Ostrum Asset Management bought a new stake in OGE Energy in the 1st quarter worth about $224,000. Finally, IFM Investors Pty Ltd bought a new stake in OGE Energy in the 1st quarter worth about $254,000. Hedge funds and other institutional investors own 61.51% of the company’s stock.
In other news, VP Patricia D. Horn sold 3,715 shares of OGE Energy stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $37.00, for a total transaction of $137,455.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jerry A. Peace sold 2,513 shares of OGE Energy stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total value of $92,252.23. Following the transaction, the vice president now directly owns 11,125 shares in the company, valued at $408,398.75. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.
OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The firm had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $592.64 million. During the same period in the previous year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th will be given a dividend of $0.365 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, October 9th. OGE Energy’s payout ratio is presently 69.27%.
Several research analysts have issued reports on the company. Bank of America raised their target price on OGE Energy from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. ValuEngine raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. UBS Group raised their target price on OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Finally, Goldman Sachs Group cut OGE Energy from a “buy” rating to a “neutral” rating in a research report on Sunday, June 24th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $36.60.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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