First Mercantile Trust Co. lowered its position in shares of OGE Energy Corporation (NYSE:OGE) by 22.8% during the second quarter, Holdings Channel reports. The fund owned 28,060 shares of the utilities provider’s stock after selling 8,293 shares during the period. First Mercantile Trust Co.’s holdings in OGE Energy Corporation were worth $976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Capital Advisers Inc. raised its stake in shares of OGE Energy Corporation by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 7,060 shares of the utilities provider’s stock valued at $246,000 after buying an additional 47 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of OGE Energy Corporation by 0.3% in the second quarter. Capstone Asset Management Co. now owns 18,899 shares of the utilities provider’s stock valued at $657,000 after buying an additional 60 shares in the last quarter. Torch Wealth Management LLC raised its stake in shares of OGE Energy Corporation by 0.9% in the second quarter. Torch Wealth Management LLC now owns 8,391 shares of the utilities provider’s stock valued at $292,000 after buying an additional 73 shares in the last quarter. IFP Advisors Inc raised its stake in shares of OGE Energy Corporation by 0.8% in the second quarter. IFP Advisors Inc now owns 10,694 shares of the utilities provider’s stock valued at $372,000 after buying an additional 80 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of OGE Energy Corporation by 0.6% in the second quarter. Bank of Montreal Can now owns 17,806 shares of the utilities provider’s stock valued at $619,000 after buying an additional 107 shares in the last quarter. 61.79% of the stock is currently owned by institutional investors.

OGE Energy Corporation (NYSE OGE) opened at 35.42 on Friday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The firm has a 50-day moving average of $35.26 and a 200-day moving average of $35.12. The stock has a market cap of $7.07 billion, a PE ratio of 18.54 and a beta of 0.88.

OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million during the quarter, compared to analyst estimates of $563 million. During the same period last year, the firm posted $0.35 earnings per share. OGE Energy Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that OGE Energy Corporation will post $1.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 10th were issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Thursday, July 6th. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 63.35%.

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Several brokerages have commented on OGE. BidaskClub raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $37.00 price target (up previously from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday. Finally, Evercore ISI started coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. OGE Energy Corporation has a consensus rating of “Hold” and an average price target of $35.17.

In related news, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total value of $45,387.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the transaction, the insider now directly owns 18,311 shares of the company’s stock, valued at $662,675.09. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

About OGE Energy Corporation

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

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Institutional Ownership by Quarter for OGE Energy Corporation (NYSE:OGE)

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