Cristina F. Mcquistion Sells 5,008 Shares of OGE Energy Corp. (NYSE:OGE) Stock

OGE Energy Corp. (NYSE:OGE) VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

OGE Energy Price Performance

Shares of OGE opened at $42.79 on Friday. The firm has a 50-day simple moving average of $40.85 and a two-hundred day simple moving average of $38.37. The stock has a market cap of $8.60 billion, a PE ratio of 22.17, a P/E/G ratio of 3.86 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last posted 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). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $1.20 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts forecast that OGE Energy Corp. will post 2.15 EPS 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 issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.94%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Institutional Trading of OGE Energy

A number of institutional investors and hedge funds have recently bought and sold shares of OGE. International Assets Investment Management LLC boosted its holdings in OGE Energy by 3,834.0% in the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of OGE Energy by 31.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after buying an additional 531,730 shares during the period. Verition Fund Management LLC grew its position in shares of OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after buying an additional 265,115 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after buying an additional 194,839 shares during the period. Finally, State Street Corp raised its holdings in OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after acquiring an additional 185,069 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price target 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. Barclays boosted their target price 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 initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.40.

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.