Swiss National Bank Sells 2,500 Shares of OGE Energy Corp. (NYSE:OGE)

Swiss National Bank lessened its holdings in OGE Energy Corp. (NYSE:OGE) by 0.6% during the third quarter, HoldingsChannel.com reports. The fund owned 391,400 shares of the utilities provider’s stock after selling 2,500 shares during the period. Swiss National Bank’s holdings in OGE Energy were worth $16,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Natixis Advisors LLC grew its position in OGE Energy by 12.5% in the third quarter. Natixis Advisors LLC now owns 72,751 shares of the utilities provider’s stock valued at $2,984,000 after acquiring an additional 8,060 shares during the last quarter. CIBC Asset Management Inc bought a new position in OGE Energy in the third quarter valued at about $236,000. ING Groep NV bought a new position in OGE Energy in the third quarter valued at about $3,700,000. KBC Group NV grew its position in OGE Energy by 13.2% in the third quarter. KBC Group NV now owns 5,021 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 584 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in OGE Energy by 35.5% in the third quarter. Oppenheimer & Co. Inc. now owns 27,142 shares of the utilities provider’s stock valued at $1,113,000 after acquiring an additional 7,113 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

OGE Energy Price Performance

OGE Energy stock opened at $43.82 on Friday. The stock’s 50 day moving average is $41.11 and its 200 day moving average is $38.60. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The firm has a market cap of $8.80 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.88 and a beta of 0.74. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.33.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. OGE Energy’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, research analysts expect that OGE Energy Corp. will post 2.15 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a $0.4213 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s payout ratio is currently 87.05%.

Analyst Ratings Changes

A number of research analysts have issued reports on OGE shares. Barclays lifted their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI lifted their price target 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 began coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.