OGE Energy Corp. (NYSE:OGE) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 13.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,075 shares of the utilities provider’s stock after selling 320 shares during the period. Avior Wealth Management LLC’s holdings in OGE Energy were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new stake in OGE Energy during the second quarter worth approximately $619,000. Wedge Capital Management L L P NC increased its holdings in shares of OGE Energy by 6.2% in the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after buying an additional 22,899 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of OGE Energy by 235.7% in the first quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock valued at $1,989,000 after buying an additional 40,710 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of OGE Energy by 207.4% in the first quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider’s stock valued at $763,000 after buying an additional 15,017 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of OGE Energy by 147.5% in the first quarter. Jane Street Group LLC now owns 205,958 shares of the utilities provider’s stock valued at $7,064,000 after buying an additional 122,750 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OGE shares. Jefferies Financial Group started coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Barclays upped their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Evercore ISI lifted their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.40.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

OGE Energy Stock Performance

NYSE OGE opened at $43.81 on Monday. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.94 and a beta of 0.74. The firm’s 50 day moving average price is $41.17 and its two-hundred day moving average price is $38.70.

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

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Monday, October 7th. OGE Energy’s payout ratio is currently 87.05%.

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.