Shelton Capital Management reduced its position in OGE Energy Corp. (NYSE:OGE – Free Report) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,869 shares of the utilities provider’s stock after selling 382 shares during the period. Shelton Capital Management’s holdings in OGE Energy were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in OGE Energy in the second quarter worth about $259,000. Dark Forest Capital Management LP purchased a new stake in OGE Energy during the first quarter valued at approximately $112,000. LPL Financial LLC increased its holdings in OGE Energy by 1.1% during the first quarter. LPL Financial LLC now owns 127,285 shares of the utilities provider’s stock valued at $4,794,000 after buying an additional 1,409 shares during the last quarter. Shell Asset Management Co. bought a new position in OGE Energy in the second quarter worth approximately $438,000. Finally, Brighton Jones LLC grew its position in shares of OGE Energy by 9.1% during the 2nd quarter. Brighton Jones LLC now owns 5,989 shares of the utilities provider’s stock valued at $215,000 after acquiring an additional 499 shares during the period. Institutional investors own 66.99% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Barclays raised their target price on OGE Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, October 24th. StockNews.com assumed coverage on OGE Energy in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Guggenheim decreased their target price on shares of OGE Energy from $36.00 to $32.00 in a research note on Monday, October 9th. UBS Group lowered their price target on shares of OGE Energy from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, October 4th. Finally, LADENBURG THALM/SH SH decreased their price objective on shares of OGE Energy from $39.00 to $36.00 in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.29.
OGE Energy Price Performance
OGE stock opened at $34.68 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.56 and a current ratio of 0.82. The company’s fifty day moving average price is $34.20 and its 200-day moving average price is $35.13. OGE Energy Corp. has a one year low of $31.25 and a one year high of $41.00. The company has a market capitalization of $6.95 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 4.73 and a beta of 0.73.
OGE Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Tuesday, October 10th were paid a $0.4182 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.67 annualized dividend and a yield of 4.82%. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. OGE Energy’s payout ratio is presently 80.29%.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.
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