Pacer Advisors Inc. Trims Stake in OGE Energy Corporation (NYSE:OGE)

Key Points

• Pacer Advisors Inc. reduced its stake in OGE Energy Corporation by 62.5%, now holding 11,250 shares valued at approximately $517,000 after selling 18,711 shares.
• Analysts have shown increased optimism for OGE Energy, with four upgrades to "buy" ratings and a consensus price target of $46.80.
• OGE Energy recently announced a quarterly dividend of $0.4213 per share, reflecting an annualized yield of 3.7%.

Pacer Advisors Inc. trimmed its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 62.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,250 shares of the utilities provider's stock after selling 18,711 shares during the quarter. Pacer Advisors Inc.'s holdings in OGE Energy were worth $517,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of OGE. LPL Financial LLC boosted its stake in shares of OGE Energy by 4.3% in the 4th quarter. LPL Financial LLC now owns 201,539 shares of the utilities provider's stock valued at $8,313,000 after purchasing an additional 8,293 shares in the last quarter. Norges Bank bought a new stake in shares of OGE Energy in the 4th quarter valued at $68,876,000. Pictet Asset Management Holding SA increased its stake in shares of OGE Energy by 12.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 33,029 shares of the utilities provider's stock valued at $1,362,000 after acquiring an additional 3,559 shares in the last quarter. California Public Employees Retirement System increased its stake in OGE Energy by 1.6% during the 4th quarter. California Public Employees Retirement System now owns 958,378 shares of the utilities provider's stock valued at $39,533,000 after purchasing an additional 15,124 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of OGE Energy by 37.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,088 shares of the utilities provider's stock worth $787,000 after acquiring an additional 5,182 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Price Performance

OGE stock traded down $0.52 during midday trading on Tuesday, hitting $45.38. The company's stock had a trading volume of 332,706 shares, compared to its average volume of 1,170,694. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57. OGE Energy Corporation has a 12 month low of $38.43 and a 12 month high of $46.91. The company has a 50 day moving average of $44.38 and a two-hundred day moving average of $44.28. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

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

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a $0.4213 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.7%. OGE Energy's dividend payout ratio (DPR) is 68.85%.

Insider Buying and Selling

In other news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president directly owned 43,932 shares in the company, valued at $1,935,643.92. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

OGE has been the subject of several research reports. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Wells Fargo & Company increased their price target on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a report on Friday, April 11th. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of "Moderate Buy" and an average price target of $46.80.

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.