Commerce Bank Reduces Holdings in OGE Energy Corp. (NYSE:OGE)

Commerce Bank decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,158 shares of the utilities provider’s stock after selling 577 shares during the quarter. Commerce Bank’s holdings in OGE Energy were worth $1,237,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in OGE. International Assets Investment Management LLC grew its holdings in shares of OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after purchasing an additional 729,579 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of OGE Energy by 31.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after purchasing an additional 531,730 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after purchasing an additional 194,839 shares during the last quarter. ClearBridge Investments Ltd grew its holdings in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after purchasing an additional 150,797 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after purchasing an additional 139,872 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Activity at OGE Energy

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

OGE Energy Price Performance

Shares of OGE opened at $43.81 on Monday. 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 company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. OGE Energy Corp. has a fifty-two week low of $32.06 and a fifty-two week high of $44.33. The firm has a 50-day simple moving average of $41.17 and a 200-day simple moving average of $38.70.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. On average, equities research analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Evercore ISI increased their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note 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 research note 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.40.

OGE Energy 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.