OGE Energy Corp. (NYSE:OGE) Stock Position Cut by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,777 shares of the utilities provider’s stock after selling 503 shares during the period. Sugarloaf Wealth Management LLC’s holdings in OGE Energy were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in OGE Energy during the third quarter valued at approximately $30,000. Kimelman & Baird LLC acquired a new position in shares of OGE Energy in the 2nd quarter valued at $38,000. Fortitude Family Office LLC acquired a new position in shares of OGE Energy in the 3rd quarter valued at $63,000. Wilmington Savings Fund Society FSB acquired a new stake in OGE Energy during the 3rd quarter worth about $134,000. Finally, Blue Trust Inc. lifted its stake in OGE Energy by 45.1% during the third quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider’s stock valued at $163,000 after buying an additional 1,236 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OGE. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Barclays boosted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Insider Activity at OGE Energy

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

OGE Energy Stock Performance

Shares of OGE opened at $39.78 on Friday. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The company has a market capitalization of $7.99 billion, a PE ratio of 20.61, a PEG ratio of 3.80 and a beta of 0.77. The company’s 50 day moving average price is $42.11 and its 200 day moving average price is $40.09.

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

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a yield of 4.24%. OGE Energy’s dividend payout ratio is currently 87.05%.

OGE Energy 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.