Alaska Permanent Fund Corp Has $3.09 Million Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Alaska Permanent Fund Corp cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 27.2% during the fourth quarter, Holdings Channel reports. The firm owned 88,415 shares of the utilities provider’s stock after selling 32,957 shares during the quarter. Alaska Permanent Fund Corp’s holdings in OGE Energy were worth $3,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Authentikos Wealth Advisory LLC purchased a new position in OGE Energy in the third quarter valued at about $43,000. Avior Wealth Management LLC boosted its stake in shares of OGE Energy by 572.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 1,248 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of OGE Energy during the 4th quarter worth about $66,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of OGE Energy during the 3rd quarter worth about $105,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of OGE Energy during the 3rd quarter worth about $134,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE Energy stock traded up $0.40 during midday trading on Wednesday, reaching $34.32. 2,217,831 shares of the company’s stock were exchanged, compared to its average volume of 1,579,609. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $38.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 3.19 and a beta of 0.73. The stock’s 50-day simple moving average is $33.56 and its 200 day simple moving average is $34.07.

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

OGE Energy Cuts Dividend

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

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.