JPMorgan Chase & Co. Has $41.88 Million Stake in OGE Energy Corp. (NYSE:OGE)

JPMorgan Chase & Co. reduced its holdings in OGE Energy Corp. (NYSE:OGE) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,020,955 shares of the utilities provider’s stock after selling 54,851 shares during the quarter. JPMorgan Chase & Co.’s holdings in OGE Energy were worth $41,880,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in OGE. Allspring Global Investments Holdings LLC raised its position in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after buying an additional 278 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in OGE Energy by 3.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 290 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in shares of OGE Energy by 3.8% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 300 shares during the period. UMB Bank n.a. grew its holdings in shares of OGE Energy by 5.3% during the 3rd quarter. UMB Bank n.a. now owns 7,694 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 390 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of OGE Energy by 1.8% during the third quarter. US Bancorp DE now owns 24,335 shares of the utilities provider’s stock valued at $998,000 after purchasing an additional 419 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OGE has been the subject of several research reports. Barclays raised their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.50.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

OGE Energy Trading Up 0.7 %

OGE opened at $41.59 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $8.36 billion, a PE ratio of 21.55, a PEG ratio of 3.80 and a beta of 0.77. The firm has a 50-day moving average price of $42.07 and a two-hundred day moving average price of $39.97. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 4.05%. OGE Energy’s dividend 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.