Exchange Traded Concepts LLC Sells 710 Shares of OGE Energy Corp. (NYSE:OGE)

Exchange Traded Concepts LLC trimmed its position in shares of OGE Energy Corp. (NYSE:OGE) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,672 shares of the utilities provider’s stock after selling 710 shares during the quarter. Exchange Traded Concepts LLC’s holdings in OGE Energy were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. lifted its holdings in shares of OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in OGE Energy in the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new position in OGE Energy in the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC raised its holdings in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Gradient Investments LLC bought a new position in OGE Energy in the 2nd quarter worth $68,000. 71.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on OGE. Evercore ISI raised their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Barclays raised their target price on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, OGE Energy has an average rating of “Hold” and a consensus price target of $38.80.

OGE Energy Price Performance

NYSE:OGE opened at $41.15 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The business’s 50-day simple moving average is $40.10 and its two-hundred day simple moving average is $37.32. The stock has a market cap of $8.27 billion, a PE ratio of 20.17, a P/E/G ratio of 3.57 and a beta of 0.74. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. As a group, analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.09%. OGE Energy’s dividend payout ratio (DPR) is presently 82.35%.

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.