M&T Bank Corp lessened its stake in shares of OGE Energy Corporation (NYSE:OGE) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,680 shares of the utilities provider’s stock after selling 351 shares during the period. M&T Bank Corp’s holdings in OGE Energy Corporation were worth $439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in OGE Energy Corporation by 2.2% during the first quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock worth $10,584,000 after buying an additional 6,447 shares during the last quarter. Swiss National Bank increased its holdings in OGE Energy Corporation by 2.8% during the second quarter. Swiss National Bank now owns 727,600 shares of the utilities provider’s stock worth $25,313,000 after buying an additional 20,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in OGE Energy Corporation by 33.3% during the first quarter. Renaissance Technologies LLC now owns 937,200 shares of the utilities provider’s stock worth $32,783,000 after buying an additional 234,000 shares during the last quarter. Principal Financial Group Inc. increased its holdings in OGE Energy Corporation by 18.2% during the second quarter. Principal Financial Group Inc. now owns 1,315,175 shares of the utilities provider’s stock worth $45,755,000 after buying an additional 202,440 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in OGE Energy Corporation during the first quarter worth about $2,530,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

A number of equities analysts have weighed in on OGE shares. Wells Fargo & Company lowered shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 target price for the company. in a research report on Friday. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price for the company. Jefferies Group LLC reiterated a “hold” rating and set a $37.00 target price (up previously from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.00.

ILLEGAL ACTIVITY WARNING: This report was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/10/09/oge-energy-corporation-oge-shares-sold-by-mt-bank-corp.html.

In other news, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

OGE Energy Corporation (OGE) opened at 35.58 on Monday. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 18.63 and a beta of 0.88. OGE Energy Corporation has a 12 month low of $29.57 and a 12 month high of $37.40. The firm’s 50-day moving average is $36.07 and its 200-day moving average is $35.36.

OGE Energy Corporation (NYSE:OGE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 $563.00 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Friday, October 6th. OGE Energy Corporation’s payout ratio is currently 69.63%.

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.

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

Receive News & Stock Ratings for OGE Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy Corporation and related stocks with our FREE daily email newsletter.