Aigen Investment Management LP Sells 796 Shares of OGE Energy Corp. (NYSE:OGE)

Aigen Investment Management LP reduced its stake in OGE Energy Corp. (NYSE:OGE) by 9.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 8,063 shares of the utilities provider’s stock after selling 796 shares during the quarter. Aigen Investment Management LP’s holdings in OGE Energy were worth $331,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in OGE Energy by 3.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock worth $342,000 after acquiring an additional 290 shares during the period. Centennial Wealth Advisory LLC raised its position in shares of OGE Energy by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after acquiring an additional 300 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of OGE Energy by 3.2% in the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 303 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of OGE Energy by 12.8% in the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 312 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays raised their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Evercore ISI raised their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Price Performance

Shares of OGE opened at $42.79 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.09. The stock has a market capitalization of $8.60 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.86 and a beta of 0.74. The company has a 50 day moving average of $40.85 and a 200-day moving average of $38.37.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. As a group, equities research analysts forecast that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 3.94%. OGE Energy’s payout ratio is currently 87.05%.

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.