Reilly Financial Advisors LLC Cuts Position in OGE Energy Corp. (OGE)
Reilly Financial Advisors LLC reduced its stake in shares of OGE Energy Corp. (NYSE:OGE) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,350 shares of the utilities provider’s stock after selling 2,440 shares during the period. Reilly Financial Advisors LLC’s holdings in OGE Energy were worth $1,284,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of OGE Energy by 2.8% during the 2nd quarter. BlackRock Inc. now owns 24,454,200 shares of the utilities provider’s stock worth $861,033,000 after purchasing an additional 669,499 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of OGE Energy by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,328,308 shares of the utilities provider’s stock worth $117,191,000 after purchasing an additional 351,218 shares during the last quarter. FMR LLC raised its position in shares of OGE Energy by 3.9% during the 2nd quarter. FMR LLC now owns 3,176,682 shares of the utilities provider’s stock worth $111,851,000 after purchasing an additional 118,562 shares during the last quarter. First Trust Advisors LP raised its position in shares of OGE Energy by 11.9% during the 2nd quarter. First Trust Advisors LP now owns 1,350,012 shares of the utilities provider’s stock worth $47,534,000 after purchasing an additional 144,058 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of OGE Energy by 75.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,187,578 shares of the utilities provider’s stock worth $41,815,000 after purchasing an additional 511,866 shares during the last quarter. Hedge funds and other institutional investors own 61.49% of the company’s stock.
In other OGE Energy news, VP Patricia D. Horn sold 3,715 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $37.00, for a total value of $137,455.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jerry A. Peace sold 2,513 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the transaction, the vice president now owns 11,125 shares of the company’s stock, valued at $408,398.75. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Shares of OGE opened at $37.77 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.45 and a quick ratio of 0.28. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 3.55 and a beta of 0.62. OGE Energy Corp. has a fifty-two week low of $29.59 and a fifty-two week high of $38.13.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The business had revenue of $567.00 million during the quarter, compared to analyst estimates of $592.64 million. OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. On average, analysts forecast that OGE Energy Corp. will post 2.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th will be issued a $0.365 dividend. The ex-dividend date is Tuesday, October 9th. This is an increase from OGE Energy’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a yield of 3.87%. OGE Energy’s payout ratio is 76.04%.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
Further Reading: Intrinsic Value and Stock Selection
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