John G Ullman & Associates Inc. Sells 5,916 Shares of OGE Energy Corporation $OGE

Key Points

• John G Ullman & Associates Inc. reduced its holdings in OGE Energy Corporation by 1.1% during Q2, selling 5,916 shares and now owns 514,468 shares worth approximately $22.8 million.
• OGE Energy has received mixed ratings from analysts, including a reiteration of a "buy" rating by Weiss Ratings and a price target increase to $47.00 by UBS Group.
• The company has announced a quarterly dividend increase to $0.425 per share, set to be paid on October 31st, which reflects a positive trend in its financial performance.

John G Ullman & Associates Inc. lessened its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,468 shares of the utilities provider's stock after selling 5,916 shares during the quarter. OGE Energy comprises approximately 3.4% of John G Ullman & Associates Inc.'s investment portfolio, making the stock its 7th largest holding. John G Ullman & Associates Inc. owned 0.26% of OGE Energy worth $22,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Natixis Advisors LLC increased its holdings in OGE Energy by 0.3% in the 1st quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after buying an additional 250 shares during the period. Tectonic Advisors LLC increased its holdings in OGE Energy by 2.0% in the 2nd quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider's stock worth $611,000 after buying an additional 272 shares during the period. IFM Investors Pty Ltd increased its holdings in OGE Energy by 2.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider's stock worth $644,000 after buying an additional 280 shares during the period. Xponance Inc. increased its holdings in OGE Energy by 1.2% in the 1st quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after buying an additional 283 shares during the period. Finally, Parallel Advisors LLC increased its holdings in OGE Energy by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 9,304 shares of the utilities provider's stock worth $413,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OGE. Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a report on Wednesday, October 8th. UBS Group upped their price objective on OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, October 10th. Finally, Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, OGE Energy currently has an average rating of "Moderate Buy" and an average price target of $47.00.

OGE Energy Trading Up 0.1%

Shares of NYSE:OGE opened at $46.47 on Friday. OGE Energy Corporation has a 1 year low of $39.10 and a 1 year high of $47.33. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The business's 50 day moving average price is $45.09 and its 200-day moving average price is $44.66.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. During the same quarter last year, the business earned $0.51 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $0.425 per share. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. OGE Energy's payout ratio is 69.67%.

OGE Energy Company 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.

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