Aventail Capital Group LP lowered its position in OGE Energy Corporation (NYSE:OGE – Free Report) by 42.2% in the 4th quarter, Holdings Channel reports. The fund owned 499,947 shares of the utilities provider’s stock after selling 364,641 shares during the quarter. OGE Energy accounts for 1.2% of Aventail Capital Group LP’s holdings, making the stock its 22nd biggest holding. Aventail Capital Group LP’s holdings in OGE Energy were worth $21,348,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Quest 10 Wealth Builders Inc. raised its position in shares of OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 674 shares in the last quarter. State of Wyoming bought a new position in OGE Energy during the 2nd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd increased its position in OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after buying an additional 255 shares in the last quarter. Clearstead Advisors LLC increased its position in OGE Energy by 96.2% during the 4th quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock valued at $38,000 after buying an additional 432 shares in the last quarter. Finally, Sandia Investment Management LP bought a new position in OGE Energy during the 4th quarter valued at approximately $43,000. Institutional investors own 71.84% of the company’s stock.
OGE Energy Stock Performance
Shares of OGE opened at $47.37 on Thursday. The business’s fifty day simple moving average is $47.71 and its two-hundred day simple moving average is $46.07. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.13. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 3.55 and a beta of 0.53.
OGE Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $0.425 per share. The ex-dividend date is Monday, July 6th. This represents a $1.70 annualized dividend and a yield of 3.6%. OGE Energy’s payout ratio is 75.89%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Barclays raised their price objective on OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Mizuho set a $49.00 price objective on OGE Energy in a research report on Thursday, February 19th. JPMorgan Chase & Co. assumed coverage on OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price objective for the company. Finally, Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $49.11.
Read Our Latest Stock Report on OGE Energy
Insiders Place Their Bets
In related news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider directly owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.
OGE Energy Company Profile
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.
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