Verity & Verity LLC Sells 200,359 Shares of OGE Energy Corporation $OGE

Verity & Verity LLC decreased its position in OGE Energy Corporation (NYSE:OGE) by 77.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,412 shares of the utilities provider’s stock after selling 200,359 shares during the quarter. Verity & Verity LLC’s holdings in OGE Energy were worth $2,749,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Boston Partners boosted its stake in OGE Energy by 15.7% in the 2nd quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock valued at $277,388,000 after purchasing an additional 846,365 shares during the period. Geode Capital Management LLC boosted its position in shares of OGE Energy by 0.8% in the second quarter. Geode Capital Management LLC now owns 3,555,290 shares of the utilities provider’s stock valued at $157,824,000 after acquiring an additional 26,569 shares during the period. First Trust Advisors LP grew its stake in shares of OGE Energy by 51.2% in the second quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock valued at $104,732,000 after acquiring an additional 799,264 shares in the last quarter. Norges Bank bought a new position in OGE Energy during the second quarter worth about $101,421,000. Finally, Franklin Resources Inc. raised its stake in OGE Energy by 0.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,730,071 shares of the utilities provider’s stock worth $76,781,000 after purchasing an additional 12,724 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Barclays boosted their price target on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Wall Street Zen lowered OGE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Mizuho upped their target price on OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group increased their target price on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.38.

OGE Energy Trading Up 0.4%

Shares of OGE stock opened at $42.86 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. OGE Energy Corporation has a fifty-two week low of $39.41 and a fifty-two week high of $47.33. The company has a market cap of $8.64 billion, a PE ratio of 17.21, a P/E/G ratio of 2.53 and a beta of 0.61. The stock’s fifty day moving average price is $43.95 and its two-hundred day moving average price is $44.61.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a return on equity of 10.77% and a net margin of 15.28%.The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. OGE Energy’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, January 5th. OGE Energy’s dividend payout ratio (DPR) is presently 68.27%.

About OGE Energy

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.