MetLife Investment Management LLC Sells 1,793 Shares of OGE Energy Corp. (NYSE:OGE)

MetLife Investment Management LLC reduced its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,800 shares of the utilities provider’s stock after selling 1,793 shares during the quarter. MetLife Investment Management LLC owned 0.05% of OGE Energy worth $4,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in OGE Energy in the 3rd quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of OGE Energy in the second quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the second quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC lifted its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 278 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in OGE Energy in the third quarter worth approximately $63,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Trading Down 0.3 %

NYSE:OGE opened at $43.96 on Monday. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.41. The business has a fifty day moving average price of $41.50 and a 200-day moving average price of $38.96. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.97 and a beta of 0.74. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS 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 company had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a $0.4213 dividend. 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 is presently 87.05%.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of research reports. Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Barclays raised their target price 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average target price of $40.50.

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.