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

Webster Bank N. A. lessened its position in shares of OGE Energy Corp. (NYSE:OGE) by 43.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in OGE. Voisard Asset Management Group Inc. bought a new stake in shares of OGE Energy in the fourth quarter valued at approximately $36,000. ICA Group Wealth Management LLC acquired a new position in shares of OGE Energy during the fourth quarter worth $194,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of OGE Energy by 20.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 11,207 shares of the utilities provider’s stock worth $391,000 after buying an additional 1,918 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of OGE Energy during the fourth quarter worth $399,000. Finally, BancFirst Trust & Investment Management increased its holdings in shares of OGE Energy by 46.5% during the first quarter. BancFirst Trust & Investment Management now owns 62,254 shares of the utilities provider’s stock worth $2,135,000 after buying an additional 19,747 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

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

OGE Energy Trading Up 0.5 %

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

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

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be issued a $0.4213 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 4.23%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 85.28%.

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.