Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in OGE Energy Corp. (NYSE:OGE)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in OGE Energy Corp. (NYSE:OGE) by 9.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 801,462 shares of the utilities provider’s stock after selling 83,645 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.40% of OGE Energy worth $34,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. CNB Bank purchased a new position in shares of OGE Energy in the 1st quarter worth $26,000. Berman Capital Advisors LLC boosted its stake in shares of OGE Energy by 108.1% in the 1st quarter. Berman Capital Advisors LLC now owns 616 shares of the utilities provider’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of OGE Energy by 154.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 620 shares of the utilities provider’s stock worth $27,000 after buying an additional 376 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of OGE Energy in the 1st quarter worth $43,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of OGE Energy in the 1st quarter worth $44,000. Hedge funds and other institutional investors own 68.69% of the company’s stock.

A number of equities analysts have recently issued reports on OGE shares. Mizuho started coverage on OGE Energy in a research note on Monday, June 17th. They issued a “neutral” rating and a $43.50 price target on the stock. Zacks Investment Research cut OGE Energy from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Evercore ISI reaffirmed a “hold” rating and issued a $39.00 target price on shares of OGE Energy in a report on Sunday. Finally, ValuEngine cut OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $40.25.

Shares of OGE Energy stock opened at $42.89 on Wednesday. OGE Energy Corp. has a one year low of $35.29 and a one year high of $44.40. The business has a fifty day moving average of $42.92. The company has a market cap of $8.58 billion, a PE ratio of 20.23, a P/E/G ratio of 4.36 and a beta of 0.49. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.73.

OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). OGE Energy had a return on equity of 10.17% and a net margin of 18.39%. The company had revenue of $513.70 million during the quarter, compared to the consensus estimate of $589.82 million. During the same period in the prior year, the business posted $0.55 earnings per share. OGE Energy’s revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Wednesday, July 10th were issued a $0.365 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.40%. OGE Energy’s dividend payout ratio is currently 68.87%.

OGE Energy Profile

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

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

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