State of Alaska Department of Revenue Reduces Stock Position in OGE Energy Corp. (NYSE:OGE)

State of Alaska Department of Revenue lowered its position in shares of OGE Energy Corp. (NYSE:OGE) by 0.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 300,480 shares of the utilities provider’s stock after selling 295 shares during the quarter. State of Alaska Department of Revenue’s holdings in OGE Energy were worth $12,394,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in OGE Energy in the 3rd quarter worth $30,000. Fortitude Family Office LLC bought a new position in shares of OGE Energy in the 3rd quarter worth about $63,000. Mather Group LLC. increased its stake in shares of OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 279 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of OGE Energy in the 4th quarter worth about $80,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of OGE Energy in the 3rd quarter worth about $134,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Down 0.2 %

NYSE:OGE opened at $42.52 on Friday. The firm has a 50-day simple moving average of $41.87 and a two-hundred day simple moving average of $40.95. 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 firm has a market cap of $8.55 billion, a P/E ratio of 22.03, a P/E/G ratio of 3.15 and a beta of 0.78. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.41.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results 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). The company had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. Analysts predict that OGE Energy Corp. will post 2.17 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Monday, January 6th. OGE Energy’s payout ratio is presently 87.05%.

Wall Street Analyst Weigh In

OGE has been the subject of a number of analyst reports. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s 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 $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

About OGE Energy

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.