Miller Howard Investments Inc. NY trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 38.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,903 shares of the utilities provider’s stock after selling 80,273 shares during the quarter. Miller Howard Investments Inc. NY owned 0.07% of OGE Energy worth $4,754,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of OGE. Dimensional Fund Advisors LP increased its position in shares of OGE Energy by 16.8% during the first quarter. Dimensional Fund Advisors LP now owns 702,711 shares of the utilities provider’s stock valued at $23,028,000 after acquiring an additional 101,318 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in OGE Energy by 15.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,498 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 1,632 shares during the period. Legal & General Group Plc grew its holdings in OGE Energy by 8.7% during the first quarter. Legal & General Group Plc now owns 637,892 shares of the utilities provider’s stock valued at $20,904,000 after purchasing an additional 51,172 shares during the period. Royal Bank of Canada grew its holdings in OGE Energy by 37.5% during the first quarter. Royal Bank of Canada now owns 171,383 shares of the utilities provider’s stock valued at $5,617,000 after purchasing an additional 46,762 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in OGE Energy by 3.9% during the first quarter. Principal Financial Group Inc. now owns 911,889 shares of the utilities provider’s stock valued at $29,882,000 after purchasing an additional 34,313 shares during the period. 61.18% of the stock is owned by institutional investors.
In other news, VP Jerry A. Peace sold 2,513 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the transaction, the vice president now directly owns 11,125 shares of the company’s stock, valued at $408,398.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patricia D. Horn sold 3,715 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $37.00, for a total value of $137,455.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The firm had revenue of $567.00 million for the quarter, compared to the consensus estimate of $592.64 million. During the same period last year, the company posted $0.52 earnings per share. OGE Energy’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts anticipate that OGE Energy Corp. will post 2.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 3.94%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, October 9th. OGE Energy’s dividend payout ratio is 76.04%.
Several brokerages have weighed in on OGE. Zacks Investment Research lowered OGE Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. UBS Group increased their price objective on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Finally, Barclays began coverage on OGE Energy in a report on Monday, October 22nd. They set a “sell” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. OGE Energy currently has an average rating of “Hold” and an average target price of $36.50.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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