Orleans Capital Management Corp LA Cuts Holdings in OGE Energy Corp. (OGE)

Orleans Capital Management Corp LA decreased its position in OGE Energy Corp. (NYSE:OGE) by 13.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,853 shares of the utilities provider’s stock after selling 5,633 shares during the period. Orleans Capital Management Corp LA’s holdings in OGE Energy were worth $1,292,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Bank of Montreal Can increased its position in shares of OGE Energy by 0.6% during the 2nd quarter. Bank of Montreal Can now owns 17,806 shares of the utilities provider’s stock worth $619,000 after purchasing an additional 107 shares during the last quarter. IFP Advisors Inc increased its position in shares of OGE Energy by 0.8% during the 2nd quarter. IFP Advisors Inc now owns 10,694 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 80 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of OGE Energy by 741.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 313,555 shares of the utilities provider’s stock worth $10,909,000 after purchasing an additional 276,300 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of OGE Energy by 4.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 659,562 shares of the utilities provider’s stock worth $22,947,000 after purchasing an additional 28,775 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of OGE Energy by 60.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 88,935 shares of the utilities provider’s stock worth $3,133,000 after purchasing an additional 33,448 shares during the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.

OGE Energy Corp. (NYSE OGE) traded down $0.16 during mid-day trading on Thursday, hitting $33.89. The company had a trading volume of 643,000 shares, compared to its average volume of 999,488. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.63 and a quick ratio of 0.46. The firm has a market cap of $6,799.96, a price-to-earnings ratio of 17.83, a PEG ratio of 3.89 and a beta of 0.90. OGE Energy Corp. has a 1-year low of $32.56 and a 1-year high of $37.40.

OGE Energy (NYSE:OGE) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The business had revenue of $716.80 million for the quarter, compared to analyst estimates of $728.18 million. OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. research analysts predict that OGE Energy Corp. will post 1.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Wednesday, January 10th will be issued a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, January 9th. OGE Energy’s payout ratio is presently 69.63%.

Several research analysts have weighed in on the company. Bank of America assumed coverage on OGE Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $37.00 price target on the stock. Wells Fargo & Company lowered OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a research report on Friday, October 6th. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy in a research report on Friday, September 1st. Finally, BidaskClub raised OGE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $36.67.

In related news, VP Patricia D. Horn sold 10,051 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

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OGE Energy Company Profile

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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