Aigen Investment Management LP Has $331,000 Stock Position in OGE Energy Corp. (NYSE:OGE)

Aigen Investment Management LP cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,063 shares of the utilities provider’s stock after selling 796 shares during the quarter. Aigen Investment Management LP’s holdings in OGE Energy were worth $331,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OGE. GSA Capital Partners LLP purchased a new position in OGE Energy during the third quarter valued at approximately $392,000. Entropy Technologies LP purchased a new position in shares of OGE Energy during the 3rd quarter valued at $1,635,000. Versor Investments LP acquired a new position in shares of OGE Energy in the third quarter worth $783,000. Meritage Portfolio Management raised its holdings in shares of OGE Energy by 9.4% during the third quarter. Meritage Portfolio Management now owns 10,520 shares of the utilities provider’s stock worth $432,000 after acquiring an additional 901 shares in the last quarter. Finally, Transcendent Capital Group LLC grew its stake in OGE Energy by 44.6% in the third quarter. Transcendent Capital Group LLC now owns 37,088 shares of the utilities provider’s stock valued at $1,521,000 after purchasing an additional 11,432 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $42.79 on Friday. 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 Corp. has a one year low of $32.06 and a one year high of $44.09. The company’s fifty day moving average price is $40.85 and its 200 day moving average price is $38.37. The company has a market capitalization of $8.60 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 3.86 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s dividend payout ratio is presently 87.05%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Barclays lifted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Evercore ISI increased their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.40.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

OGE Energy 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.