Ashton Thomas Private Wealth LLC Sells 696 Shares of OGE Energy Corp. (NYSE:OGE)

Ashton Thomas Private Wealth LLC cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 4.5% during the third quarter, HoldingsChannel.com reports. The firm owned 14,655 shares of the utilities provider’s stock after selling 696 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in OGE Energy were worth $601,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in OGE Energy in the third quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the 2nd quarter worth $35,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy during the second quarter worth $38,000. Allspring Global Investments Holdings LLC grew its stake in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in OGE Energy in the third quarter valued at about $63,000. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

OGE Energy Price Performance

Shares of OGE opened at $41.80 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The firm has a market capitalization of $8.40 billion, a PE ratio of 21.66, a P/E/G ratio of 3.89 and a beta of 0.74. The stock has a 50 day simple moving average of $40.78 and a 200 day simple moving average of $38.31. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.09.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The company 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. Sell-side analysts predict that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were paid a $0.4213 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 4.03%. OGE Energy’s payout ratio is presently 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the 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 completion of the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

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.