41,654 OGE Energy Corporation $OGE Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its OGE Energy stake by 31.6% in the third quarter, selling 41,654 shares and retaining 90,241 shares valued at about $4.1 million.
• OGE Energy beat quarterly earnings and revenue estimates, reporting EPS of $1.52 and revenue of $1.18 billion; revenue rose 13.2% year over year.
• The company raised its quarterly dividend to $0.4288 per share, equivalent to an annualized $1.72 and a 3.4% yield. Analysts’ average rating was Hold, with a $50 average price target.

Alps Advisors Inc. cut its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 31.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,241 shares of the utilities provider's stock after selling 41,654 shares during the period. Alps Advisors Inc.'s holdings in OGE Energy were worth $4,099,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in OGE Energy in the 2nd quarter worth $1,277,554,000. Dockside LLC bought a new position in shares of OGE Energy during the 2nd quarter valued at about $1,102,000. Jupiter Topco LLC bought a new position in shares of OGE Energy during the 2nd quarter valued at about $4,354,000. Royal Bank of Canada grew its position in shares of OGE Energy by 89.4% during the first quarter. Royal Bank of Canada now owns 157,249 shares of the utilities provider's stock valued at $7,540,000 after purchasing an additional 74,242 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of OGE Energy by 10.5% during the first quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider's stock valued at $46,417,000 after purchasing an additional 91,696 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president owned 40,555 shares in the company, valued at $1,869,991.05. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OGE has been the topic of several research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a report on Thursday, October 29th. Barclays increased their price target on OGE Energy from $48.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, October 30th. Scotiabank reissued an "outperform" rating and set a $54.00 price target on shares of OGE Energy in a research note on Wednesday, October 28th. Argus restated a "buy" rating on shares of OGE Energy in a report on Wednesday, September 16th. Finally, BMO Capital Markets reduced their price objective on OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $50.00.

OGE Energy Stock Down 0.0%

Shares of NYSE:OGE opened at $50.63 on Monday. The firm has a market capitalization of $10.47 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. The business has a 50 day simple moving average of $46.94 and a two-hundred day simple moving average of $47.27. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $51.60. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.52.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.16. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company's revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities analysts predict that OGE Energy Corporation will post 2.54 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were given a $0.4288 dividend. This is a boost from OGE Energy's previous quarterly dividend of $0.4250. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.72 annualized dividend and a yield of 3.4%. OGE Energy's dividend payout ratio is currently 64.53%.

OGE Energy Profile

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area.

The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.

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