Envestnet Asset Management Inc. trimmed its position in OGE Energy Corp. (NYSE:OGE – Free Report) by 84.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,710 shares of the utilities provider’s stock after selling 698,824 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of OGE Energy worth $4,478,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballast Advisors LLC increased its holdings in OGE Energy by 37.9% in the 2nd quarter. Ballast Advisors LLC now owns 7,889 shares of the utilities provider’s stock worth $283,000 after acquiring an additional 2,169 shares in the last quarter. Quantinno Capital Management LP increased its holdings in OGE Energy by 127.3% in the 2nd quarter. Quantinno Capital Management LP now owns 12,821 shares of the utilities provider’s stock worth $460,000 after acquiring an additional 7,180 shares in the last quarter. Headlands Technologies LLC purchased a new stake in OGE Energy in the 2nd quarter worth approximately $70,000. Barclays PLC increased its holdings in OGE Energy by 21.9% in the 2nd quarter. Barclays PLC now owns 191,918 shares of the utilities provider’s stock worth $6,893,000 after acquiring an additional 34,510 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in OGE Energy by 2.5% in the 2nd quarter. Van ECK Associates Corp now owns 54,540 shares of the utilities provider’s stock worth $1,959,000 after acquiring an additional 1,332 shares in the last quarter. 66.99% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
OGE has been the subject of a number of research analyst reports. UBS Group cut their price objective on shares of OGE Energy from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, October 4th. LADENBURG THALM/SH SH cut their price objective on shares of OGE Energy from $39.00 to $36.00 in a report on Thursday, October 12th. StockNews.com initiated coverage on shares of OGE Energy in a report on Thursday, October 5th. They set a “hold” rating for the company. Guggenheim cut their price objective on shares of OGE Energy from $36.00 to $32.00 in a report on Monday, October 9th. Finally, Barclays increased their price objective on shares of OGE Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.29.
OGE Energy Stock Down 0.3 %
Shares of OGE opened at $34.68 on Tuesday. The company has a market cap of $6.95 billion, a PE ratio of 16.69, a P/E/G ratio of 4.73 and a beta of 0.73. The business has a fifty day moving average of $34.20 and a 200 day moving average of $35.13. OGE Energy Corp. has a 52-week low of $31.25 and a 52-week high of $41.00. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.96.
OGE Energy Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.4182 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.82%. This is an increase from OGE Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, October 6th. OGE Energy’s dividend payout ratio (DPR) is 80.29%.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.
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