OGE Energy Corporation (NYSE:OGE) Director Luke R. Corbett Sells 1,250 Shares

OGE Energy Corporation (NYSE:OGE) Director Luke R. Corbett sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

OGE Energy Corporation (NYSE:OGE) traded down 0.69% during mid-day trading on Thursday, reaching $35.78. The company had a trading volume of 519,553 shares. The firm’s 50-day moving average is $35.25 and its 200-day moving average is $35.10. The firm has a market capitalization of $7.15 billion, a P/E ratio of 18.73 and a beta of 0.88. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.41.

OGE Energy Corporation (NYSE:OGE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The company had revenue of $586.40 million for the quarter, compared to analyst estimates of $563 million. During the same period in the prior year, the firm earned $0.35 earnings per share. OGE Energy Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that OGE Energy Corporation will post $1.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, July 6th. OGE Energy Corporation’s payout ratio is 63.35%.

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Institutional investors have recently modified their holdings of the company. Capital Fund Management S.A. raised its position in shares of OGE Energy Corporation by 189.5% in the second quarter. Capital Fund Management S.A. now owns 42,010 shares of the utilities provider’s stock worth $1,462,000 after buying an additional 27,500 shares during the last quarter. Financial Counselors Inc. raised its position in shares of OGE Energy Corporation by 123.0% in the second quarter. Financial Counselors Inc. now owns 14,504 shares of the utilities provider’s stock worth $505,000 after buying an additional 8,000 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of OGE Energy Corporation by 178.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 17,889 shares of the utilities provider’s stock worth $622,000 after buying an additional 11,455 shares during the last quarter. LSV Asset Management raised its position in shares of OGE Energy Corporation by 2.0% in the second quarter. LSV Asset Management now owns 553,700 shares of the utilities provider’s stock worth $19,263,000 after buying an additional 11,020 shares during the last quarter. Finally, Ffcm LLC raised its position in shares of OGE Energy Corporation by 199.8% in the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after buying an additional 2,318 shares during the last quarter. 61.79% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on OGE shares. Zacks Investment Research cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Jefferies Group LLC reissued a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research note on Friday, May 5th. BidaskClub cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) started coverage on OGE Energy Corporation in a research note on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price for the company. Finally, Evercore ISI started coverage on OGE Energy Corporation in a research note on Monday, July 24th. They set an “outperform” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. OGE Energy Corporation has an average rating of “Hold” and an average target price of $35.17.

OGE Energy Corporation Company Profile

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

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