OGE Energy Corp. (NYSE:OGE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 99.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,223 shares of the utilities provider's stock after selling 643,734 shares during the period. Allspring Global Investments Holdings LLC's holdings in OGE Energy were worth $78,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Authentikos Wealth Advisory LLC bought a new position in OGE Energy in the third quarter valued at about $43,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of OGE Energy in the 3rd quarter worth approximately $105,000. DekaBank Deutsche Girozentrale purchased a new position in shares of OGE Energy in the third quarter worth approximately $134,000. AXQ Capital LP bought a new stake in OGE Energy during the third quarter valued at approximately $207,000. Finally, Brighton Jones LLC grew its position in OGE Energy by 5.8% during the third quarter. Brighton Jones LLC now owns 6,334 shares of the utilities provider's stock valued at $211,000 after buying an additional 345 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

OGE Energy stock traded up $0.04 during mid-day trading on Tuesday, hitting $34.66. The stock had a trading volume of 2,692,316 shares, compared to its average volume of 1,595,498. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. The firm's 50 day moving average is $33.71 and its 200 day moving average is $34.09. The firm has a market capitalization of $6.95 billion, a P/E ratio of 16.74, a P/E/G ratio of 3.17 and a beta of 0.73. OGE Energy Corp. has a one year low of $31.25 and a one year high of $38.04.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $566.70 million during the quarter, compared to analyst estimates of $986.67 million. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The business's quarterly revenue was down 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 8th were issued a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date was Friday, April 5th. OGE Energy's dividend payout ratio (DPR) is currently 80.68%.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the sale, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OGE shares. LADENBURG THALM/SH SH cut shares of OGE Energy from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. TheStreet downgraded OGE Energy from a "b" rating to a "c+" rating in a research report on Wednesday, February 21st. StockNews.com upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, April 23rd. Finally, Barclays cut OGE Energy from an "overweight" rating to an "equal weight" rating and set a $34.00 price objective on the stock. in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $33.40.

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.