Webster Bank N. A. Sells 1,000 Shares of OGE Energy Corp. (NYSE:OGE)

Webster Bank N. A. lessened its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 43.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the utilities provider’s stock after selling 1,000 shares during the period. Webster Bank N. A.’s holdings in OGE Energy were worth $53,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. JBR Co Financial Management Inc boosted its holdings in shares of OGE Energy by 0.7% during the 3rd quarter. JBR Co Financial Management Inc now owns 73,545 shares of the utilities provider’s stock valued at $3,017,000 after buying an additional 525 shares in the last quarter. Quotient Wealth Partners LLC purchased a new position in shares of OGE Energy in the 3rd quarter worth about $201,000. UMB Bank n.a. raised its position in shares of OGE Energy by 5.3% in 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 during the last quarter. GAMMA Investing LLC raised its position in shares of OGE Energy by 18.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,390 shares of the utilities provider’s stock worth $180,000 after purchasing an additional 679 shares during the last quarter. Finally, Verity & Verity LLC raised its position in shares of OGE Energy by 0.7% in the 2nd quarter. Verity & Verity LLC now owns 484,136 shares of the utilities provider’s stock worth $17,284,000 after purchasing an additional 3,568 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI upped their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Barclays upped their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.80.

OGE Energy Trading Up 0.5 %

OGE stock opened at $39.84 on Monday. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $41.48. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 3.56 and a beta of 0.74. The business has a 50 day simple moving average of $39.93 and a two-hundred day simple moving average of $37.13.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.23%. OGE Energy’s dividend payout ratio is presently 85.28%.

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.