Cwm LLC Lowers Position in OGE Energy Corp. (NYSE:OGE)

Cwm LLC decreased its position in OGE Energy Corp. (NYSE:OGE) by 5.8% during the 4th quarter, Holdings Channel reports. The fund owned 86,837 shares of the utilities provider’s stock after selling 5,327 shares during the quarter. Cwm LLC’s holdings in OGE Energy were worth $3,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in OGE. National Bank of Canada FI boosted its holdings in OGE Energy by 5,255.2% during the third quarter. National Bank of Canada FI now owns 38,718 shares of the utilities provider’s stock worth $1,237,000 after buying an additional 37,995 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in OGE Energy by 572.5% during the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock worth $49,000 after buying an additional 1,248 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in OGE Energy by 6.8% during the third quarter. Exchange Traded Concepts LLC now owns 17,278 shares of the utilities provider’s stock worth $576,000 after buying an additional 1,104 shares in the last quarter. Verity & Verity LLC boosted its holdings in OGE Energy by 16.2% during the third quarter. Verity & Verity LLC now owns 493,829 shares of the utilities provider’s stock worth $16,830,000 after buying an additional 68,784 shares in the last quarter. Finally, Tectonic Advisors LLC purchased a new stake in OGE Energy during the third quarter worth about $335,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

NYSE:OGE opened at $34.33 on Thursday. The firm has a 50 day simple moving average of $33.56 and a 200-day simple moving average of $34.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30. The firm has a market cap of $6.88 billion, a PE ratio of 16.58, a P/E/G ratio of 3.18 and a beta of 0.73. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $38.04.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $566.70 million during the quarter, compared to analyst estimates of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. On average, equities analysts expect that OGE Energy Corp. will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be given a $0.418 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, April 5th. OGE Energy’s dividend payout ratio is presently 80.68%.

Analysts Set New Price Targets

A number of analysts recently commented on OGE shares. LADENBURG THALM/SH SH downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. Barclays downgraded shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a report on Monday. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.40.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the transaction, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

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.