MetLife Investment Management LLC Decreases Stock Position in OGE Energy Corp. (NYSE:OGE)

MetLife Investment Management LLC decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,800 shares of the utilities provider’s stock after selling 1,793 shares during the period. MetLife Investment Management LLC’s holdings in OGE Energy were worth $4,258,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after buying an additional 278 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of OGE Energy by 3.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 290 shares during the last quarter. Centennial Wealth Advisory LLC grew its holdings in shares of OGE Energy by 3.8% in the third quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp increased its position in OGE Energy by 3.2% in the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 303 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in OGE Energy by 12.8% during the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 312 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Trading Down 0.3 %

Shares of OGE opened at $43.96 on Monday. The company’s fifty day simple moving average is $41.50 and its 200-day simple moving average is $38.96. The company has a market cap of $8.83 billion, a P/E ratio of 22.78, a P/E/G ratio of 3.97 and a beta of 0.74. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.41.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is currently 87.05%.

Analyst Ratings Changes

OGE has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Barclays lifted their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Evercore ISI upped their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.50.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. This trade represents a 19.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by company 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.