Martingale Asset Management L P Trims Position in OGE Energy Corp. (NYSE:OGE)

Martingale Asset Management L P trimmed its position in OGE Energy Corp. (NYSE:OGE) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423,572 shares of the utilities provider’s stock after selling 94,379 shares during the period. Martingale Asset Management L P owned 0.21% of OGE Energy worth $17,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of OGE Energy during the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy during the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of OGE Energy during the 3rd quarter worth $63,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OGE shares. Jefferies Financial Group started coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Barclays lifted their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.50.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $44.08 on Friday. The stock has a market cap of $8.86 billion, a PE ratio of 22.84, a PEG ratio of 3.98 and a beta of 0.74. The company’s fifty day moving average is $41.44 and its 200 day moving average is $38.88. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. OGE Energy’s revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a $0.4213 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy’s payout ratio is presently 87.05%.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Company Profile

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.