OGE Energy Corp. (OGE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in OGE Energy Corp. (NYSE:OGE) by 46.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,206 shares of the utilities provider’s stock after selling 165,886 shares during the period. PNC Financial Services Group Inc. owned approximately 0.09% of OGE Energy worth $6,872,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in OGE Energy by 15.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,827,771 shares of the utilities provider’s stock valued at $139,025,000 after purchasing an additional 499,463 shares in the last quarter. Janus Henderson Group PLC increased its stake in OGE Energy by 184.2% during the 3rd quarter. Janus Henderson Group PLC now owns 91,916 shares of the utilities provider’s stock valued at $3,338,000 after purchasing an additional 59,577 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in OGE Energy by 8.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 20,189 shares of the utilities provider’s stock valued at $733,000 after purchasing an additional 1,620 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in OGE Energy by 136.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 69,039 shares of the utilities provider’s stock valued at $2,508,000 after purchasing an additional 39,787 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in OGE Energy by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 137,549 shares of the utilities provider’s stock valued at $4,996,000 after purchasing an additional 1,390 shares in the last quarter. 62.51% of the stock is owned by institutional investors.

Shares of OGE stock opened at $39.62 on Monday. OGE Energy Corp. has a 52 week low of $29.59 and a 52 week high of $39.97. The company has a market capitalization of $7.91 billion, a PE ratio of 20.64, a P/E/G ratio of 3.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.76 and a quick ratio of 0.53.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. OGE Energy had a net margin of 29.45% and a return on equity of 11.01%. The firm had revenue of $698.80 million during the quarter, compared to analyst estimates of $745.58 million. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts anticipate that OGE Energy Corp. will post 2.08 EPS for the current fiscal year.

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Bank of America lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Tuesday, November 27th. They noted that the move was a valuation call. ValuEngine upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Finally, Barclays set a $37.00 price objective on shares of OGE Energy and gave the company a “sell” rating in a research note on Saturday, November 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. OGE Energy has a consensus rating of “Hold” and a consensus target price of $37.00.

In related news, VP Cristina F. Mcquistion sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $38.53, for a total value of $154,120.00. Following the transaction, the vice president now owns 7,335 shares of the company’s stock, valued at $282,617.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Patricia D. Horn sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $39.50, for a total transaction of $395,000.00. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

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OGE Energy Company 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: Institutional Investors

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

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