Reilly Financial Advisors LLC decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,350 shares of the utilities provider’s stock after selling 2,440 shares during the quarter. Reilly Financial Advisors LLC’s holdings in OGE Energy were worth $1,284,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gideon Capital Advisors Inc. purchased a new position in shares of OGE Energy during the second quarter worth about $988,000. Covalis Capital LLP grew its holdings in shares of OGE Energy by 61.6% during the second quarter. Covalis Capital LLP now owns 299,809 shares of the utilities provider’s stock worth $10,557,000 after buying an additional 114,339 shares during the last quarter. Putnam Investments LLC boosted its holdings in OGE Energy by 43.0% in the 2nd quarter. Putnam Investments LLC now owns 262,038 shares of the utilities provider’s stock valued at $9,227,000 after purchasing an additional 78,804 shares in the last quarter. ING Groep NV purchased a new stake in OGE Energy in the 2nd quarter valued at approximately $1,077,000. Finally, Woodmont Investment Counsel LLC boosted its holdings in OGE Energy by 9.2% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 29,303 shares of the utilities provider’s stock valued at $1,032,000 after purchasing an additional 2,480 shares in the last quarter. 61.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Jerry A. Peace sold 2,513 shares of OGE Energy stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total transaction of $92,252.23. Following the completion of the sale, the vice president now directly owns 11,125 shares in the company, valued at approximately $408,398.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Patricia D. Horn sold 3,715 shares of OGE Energy stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $37.00, for a total transaction of $137,455.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The business had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $592.64 million. During the same period in the prior year, the firm posted $0.52 EPS. OGE Energy’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts expect that OGE Energy Corp. will post 2.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Tuesday, October 9th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s payout ratio is currently 76.04%.
OGE has been the topic of a number of analyst reports. Goldman Sachs Group lowered OGE Energy from a “buy” rating to a “neutral” rating in a report on Sunday, June 24th. They noted that the move was a valuation call. ValuEngine raised OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research lowered OGE Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Finally, UBS Group lifted their price objective on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. OGE Energy presently has an average rating of “Hold” and an average price target of $36.60.
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 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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