Inspire Investing LLC Reduces Stock Position in OGE Energy Corp. (NYSE:OGE)

Inspire Investing LLC lowered its position in shares of OGE Energy Corp. (NYSE:OGE) by 35.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,106 shares of the utilities provider’s stock after selling 8,711 shares during the period. Inspire Investing LLC’s holdings in OGE Energy were worth $664,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OGE. International Assets Investment Management LLC boosted its position in OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after buying an additional 729,579 shares during the period. Dimensional Fund Advisors LP boosted its position in OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after buying an additional 531,730 shares during the period. Verition Fund Management LLC boosted its position in OGE Energy by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after buying an additional 265,115 shares during the period. State Street Corp boosted its position in OGE Energy by 2.8% during the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after buying an additional 185,069 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in OGE Energy by 34.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider’s stock valued at $24,841,000 after buying an additional 154,000 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on OGE shares. Barclays dropped their target price on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $47.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average target price of $45.00.

OGE Energy Stock Up 0.1 %

Shares of OGE Energy stock opened at $43.15 on Friday. 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 company has a 50-day moving average of $42.09 and a 200 day moving average of $40.58. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.63 and a beta of 0.77. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.41.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million during 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, sell-side analysts anticipate that OGE Energy Corp. will post 2.16 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 3.91%. OGE Energy’s payout ratio is 87.05%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

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.