Prudential Financial Inc. Trims Stake in OGE Energy Corp. (OGE)

Prudential Financial Inc. cut its position in OGE Energy Corp. (NYSE:OGE) by 39.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774,697 shares of the utilities provider’s stock after selling 497,950 shares during the period. Prudential Financial Inc. owned 0.39% of OGE Energy worth $25,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OGE. Amica Retiree Medical Trust acquired a new stake in shares of OGE Energy in the 4th quarter valued at about $109,000. Assetmark Inc. grew its stake in shares of OGE Energy by 120.2% in the 4th quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock valued at $117,000 after buying an additional 1,948 shares during the period. Cerebellum GP LLC acquired a new stake in shares of OGE Energy in the 4th quarter valued at about $122,000. Resources Investment Advisors Inc. grew its stake in shares of OGE Energy by 75.1% in the 4th quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock valued at $154,000 after buying an additional 2,003 shares during the period. Finally, HL Financial Services LLC acquired a new stake in shares of OGE Energy in the 1st quarter valued at about $207,000. Institutional investors own 62.76% of the company’s stock.

Several brokerages have recently commented on OGE. Zacks Investment Research downgraded OGE Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Guggenheim restated a “buy” rating and issued a $35.00 target price on shares of OGE Energy in a research note on Friday, February 23rd. ValuEngine downgraded OGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Bank of America upgraded OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday, February 23rd. Finally, UBS began coverage on OGE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $33.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $36.00.

OGE Energy opened at $33.31 on Friday, Marketbeat reports. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 2.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.41 and a quick ratio of 0.24. OGE Energy Corp. has a 52-week low of $33.44 and a 52-week high of $33.85.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $492.70 million during the quarter, compared to the consensus estimate of $470.69 million. OGE Energy had a return on equity of 10.87% and a net margin of 27.77%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. analysts forecast that OGE Energy Corp. will post 2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Tuesday, April 10th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Monday, April 9th. This represents a $1.33 dividend on an annualized basis and a yield of 3.99%. OGE Energy’s dividend payout ratio (DPR) is currently 69.27%.

In related news, Director Peter D. Clarke purchased 1,850 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $32.40 per share, for a total transaction of $59,940.00. Following the purchase, the director now owns 1,850 shares of the company’s stock, valued at $59,940. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.44% of the stock is currently owned by insiders.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.

Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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