Elevated Capital Advisors LLC Cuts Holdings in OGE Energy Corp. (NYSE:OGE)

Elevated Capital Advisors LLC reduced its position in OGE Energy Corp. (NYSE:OGE) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,367 shares of the utilities provider’s stock after selling 434 shares during the quarter. Elevated Capital Advisors LLC’s holdings in OGE Energy were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in OGE Energy in the first quarter valued at about $515,000. Pinnacle Bancorp Inc. raised its position in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares during the period. State of Michigan Retirement System raised its position in OGE Energy by 2.5% in the first quarter. State of Michigan Retirement System now owns 49,214 shares of the utilities provider’s stock valued at $1,688,000 after purchasing an additional 1,200 shares during the period. FCG Investment Co raised its position in OGE Energy by 45.3% in the first quarter. FCG Investment Co now owns 14,204 shares of the utilities provider’s stock valued at $487,000 after purchasing an additional 4,429 shares during the period. Finally, Principal Financial Group Inc. raised its position in OGE Energy by 2.6% in the first quarter. Principal Financial Group Inc. now owns 754,113 shares of the utilities provider’s stock valued at $25,866,000 after purchasing an additional 18,794 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Up 0.7 %

NYSE:OGE opened at $41.02 on Thursday. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 3.67 and a beta of 0.74. OGE Energy Corp. has a one year low of $32.06 and a one year high of $41.48. The stock has a 50-day simple moving average of $40.19 and a 200 day simple moving average of $37.48. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71.

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

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be paid a $0.4213 dividend. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Monday, October 7th. OGE Energy’s payout ratio is presently 82.35%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays raised their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday. Evercore ISI raised their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, OGE Energy has an average rating of “Hold” and an average price target of $39.40.

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.