NN Investment Partners Holdings N.V. trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 14.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,208 shares of the utilities provider’s stock after selling 4,527 shares during the period. NN Investment Partners Holdings N.V.’s holdings in OGE Energy were worth $952,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Winslow Evans & Crocker Inc. purchased a new position in OGE Energy during the second quarter worth about $100,000. Gifford Fong Associates purchased a new position in OGE Energy during the second quarter worth about $141,000. Sigma Planning Corp purchased a new position in OGE Energy during the second quarter worth about $205,000. BerganKDV Wealth Management LLC purchased a new position in OGE Energy during the second quarter worth about $213,000. Finally, UMB Bank N A MO purchased a new position in OGE Energy during the third quarter worth about $217,000. Institutional investors and hedge funds own 61.16% of the company’s stock.
In other news, VP Patricia D. Horn sold 3,715 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $37.00, for a total value of $137,455.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jerry A. Peace sold 2,513 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the sale, the vice president now directly owns 11,125 shares of the company’s stock, valued at approximately $408,398.75. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Shares of OGE stock opened at $37.21 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.45 and a quick ratio of 0.28. OGE Energy Corp. has a 12-month low of $29.59 and a 12-month high of $38.13. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.41 and a beta of 0.54.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The firm had revenue of $567.00 million for the quarter, compared to the consensus estimate of $592.64 million. During the same period last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts anticipate that OGE Energy Corp. will post 2.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.365 per share. The ex-dividend date was Tuesday, October 9th. This represents a $1.46 annualized dividend and a yield of 3.92%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s payout ratio is 76.04%.
Several equities research analysts have issued reports on OGE shares. Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. UBS Group lifted their price target on OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Finally, Barclays started coverage on OGE Energy in a research note on Monday, October 22nd. They set a “sell” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. OGE Energy currently has a consensus rating of “Hold” and an average target price of $36.50.
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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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