Renaissance Technologies LLC Sells 15,728 Shares of OGE Energy Corp. (NYSE:OGE)

Renaissance Technologies LLC lowered its stake in OGE Energy Corp. (NYSE:OGE) by 49.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,172 shares of the utilities provider’s stock after selling 15,728 shares during the quarter. Renaissance Technologies LLC’s holdings in OGE Energy were worth $667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in OGE Energy during the fourth quarter worth $68,876,000. Raymond James Financial Inc. purchased a new stake in shares of OGE Energy in the fourth quarter valued at about $11,862,000. Boston Partners lifted its position in shares of OGE Energy by 6.6% during the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock valued at $172,554,000 after purchasing an additional 258,989 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of OGE Energy by 11.7% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,089,289 shares of the utilities provider’s stock valued at $86,183,000 after acquiring an additional 218,509 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in OGE Energy by 59.4% in the 4th quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider’s stock valued at $22,667,000 after purchasing an additional 204,837 shares during the period. Institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays raised their price target on shares of OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Argus raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.40.

OGE Energy Price Performance

Shares of OGE stock opened at $45.16 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. OGE Energy Corp. has a fifty-two week low of $34.20 and a fifty-two week high of $46.91. The firm has a market cap of $9.09 billion, a P/E ratio of 20.53, a P/E/G ratio of 3.30 and a beta of 0.57. The business’s 50 day moving average price is $44.75 and its 200-day moving average price is $43.06.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The company had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, equities research analysts anticipate that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 7th were paid a $0.4213 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. OGE Energy’s dividend payout ratio is presently 76.36%.

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.