AlphaQuest LLC Sells 37,500 Shares of OGE Energy Corporation $OGE

AlphaQuest LLC lowered its stake in OGE Energy Corporation (NYSE:OGE) by 54.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,618 shares of the utilities provider’s stock after selling 37,500 shares during the quarter. AlphaQuest LLC’s holdings in OGE Energy were worth $1,463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Boston Partners grew its stake in OGE Energy by 15.7% in the second quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock valued at $277,388,000 after purchasing an additional 846,365 shares in the last quarter. Geode Capital Management LLC grew its stake in OGE Energy by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,555,290 shares of the utilities provider’s stock valued at $157,824,000 after buying an additional 26,569 shares during the last quarter. First Trust Advisors LP grew its position in shares of OGE Energy by 51.2% in the second quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock valued at $104,732,000 after purchasing an additional 799,264 shares during the last quarter. Norges Bank bought a new stake in OGE Energy in the 2nd quarter valued at $101,421,000. Finally, Franklin Resources Inc. boosted its position in shares of OGE Energy by 0.7% in the second quarter. Franklin Resources Inc. now owns 1,730,071 shares of the utilities provider’s stock valued at $76,781,000 after acquiring an additional 12,724 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on OGE. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. Jefferies Financial Group raised their price target on shares of OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. BMO Capital Markets started coverage on shares of OGE Energy in a research report on Tuesday, January 13th. They set a “market perform” rating and a $45.00 target price on the stock. Finally, Wells Fargo & Company downgraded OGE Energy from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $45.00 to $39.00 in a report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.13.

OGE Energy Trading Up 0.5%

OGE opened at $43.68 on Friday. The firm has a market capitalization of $8.80 billion, a PE ratio of 17.54, a P/E/G ratio of 2.58 and a beta of 0.63. OGE Energy Corporation has a fifty-two week low of $40.80 and a fifty-two week high of $47.33. The company’s 50-day moving average is $43.37 and its 200 day moving average is $44.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, January 5th. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.