Mutual of America Capital Management LLC Sells 3,302 Shares of OGE Energy Corporation $OGE

Mutual of America Capital Management LLC cut its stake in shares of OGE Energy Corporation (NYSE:OGE) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,122 shares of the utilities provider’s stock after selling 3,302 shares during the quarter. Mutual of America Capital Management LLC’s holdings in OGE Energy were worth $4,443,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OGE. Turtle Creek Wealth Advisors LLC bought a new position in shares of OGE Energy in the second quarter worth approximately $266,000. Allianz Asset Management GmbH boosted its position in shares of OGE Energy by 39.7% in the second quarter. Allianz Asset Management GmbH now owns 1,284,334 shares of the utilities provider’s stock worth $56,999,000 after purchasing an additional 365,229 shares during the period. Morningstar Investment Management LLC bought a new position in OGE Energy in the 2nd quarter worth $391,000. Envestnet Portfolio Solutions Inc. boosted its holdings in OGE Energy by 277.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 19,805 shares of the utilities provider’s stock worth $879,000 after buying an additional 14,564 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in OGE Energy in the 2nd quarter worth $692,000. 71.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on OGE. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Barclays upped their price target on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group upped their price target on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group upped their price target on OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of “Moderate Buy” and an average target price of $49.00.

OGE Energy Price Performance

OGE stock opened at $46.42 on Thursday. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $47.33. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $45.17 and a two-hundred day simple moving average of $44.69. The firm has a market capitalization of $9.35 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 3.24 and a beta of 0.59.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same period in the previous year, the business posted $0.51 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is 69.67%.

About OGE Energy

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.