Martingale Asset Management L P Sells 94,379 Shares of OGE Energy Corp. (NYSE:OGE)

Martingale Asset Management L P lessened its position in OGE Energy Corp. (NYSE:OGE) by 18.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 423,572 shares of the utilities provider’s stock after selling 94,379 shares during the period. Martingale Asset Management L P’s holdings in OGE Energy were worth $17,375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the second quarter worth approximately $35,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy in the second quarter worth approximately $38,000. Allspring Global Investments Holdings LLC lifted its stake in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of OGE Energy in the third quarter worth approximately $63,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $44.08 on Friday. The firm has a fifty day moving average price of $41.44 and a 200-day moving average price of $38.88. 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 stock has a market cap of $8.86 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. Equities analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy’s dividend payout ratio is currently 87.05%.

Insider Buying and Selling

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 transaction of $214,542.72. Following the completion of the transaction, the vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OGE shares. Jefferies Financial Group started coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Barclays upped their target price on shares of 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 upped their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.50.

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.