ProShare Advisors LLC Sells 15,936 Shares of OGE Energy Corporation $OGE

ProShare Advisors LLC trimmed its holdings in OGE Energy Corporation (NYSE:OGE) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 556,779 shares of the utilities provider’s stock after selling 15,936 shares during the period. ProShare Advisors LLC owned about 0.27% of OGE Energy worth $25,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in OGE Energy in the second quarter worth about $1,277,554,000. State Street Corp lifted its position in shares of OGE Energy by 2.8% during the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock valued at $351,640,000 after buying an additional 198,593 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of OGE Energy by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock worth $128,931,000 after acquiring an additional 24,529 shares during the period. Bank of New York Mellon Corp bought a new position in shares of OGE Energy during the 2nd quarter worth $102,382,000. Finally, Energy Income Partners LLC purchased a new stake in OGE Energy in the 2nd quarter worth about $99,016,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OGE shares. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Thursday. Barclays increased their target price on shares of OGE Energy from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of OGE Energy from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Royal Bank Of Canada raised shares of OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.00.

OGE Energy Stock Up 1.5%

Shares of NYSE OGE opened at $50.20 on Tuesday. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.59. The business has a 50-day simple moving average of $46.61 and a two-hundred day simple moving average of $47.13. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. The company has a market cap of $10.37 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.93 and a beta of 0.50.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.16. OGE Energy had a return on equity of 11.11% and a net margin of 16.36%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. Research analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 5th were paid a dividend of $0.4288 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, October 5th. OGE Energy’s dividend payout ratio is presently 64.91%.

Insiders Place Their Bets

In related news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.