OGE Energy Corp. (NYSE:OGE) Stake Lowered by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 961,922 shares of the utilities provider's stock after selling 75,330 shares during the quarter. Bank of America Corp DE owned 0.48% of OGE Energy worth $39,679,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of OGE Energy during the 4th quarter valued at approximately $27,000. Bessemer Group Inc. boosted its stake in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after buying an additional 361 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of OGE Energy during the fourth quarter valued at about $35,000. Principal Securities Inc. boosted its position in shares of OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after purchasing an additional 659 shares during the period. Finally, BankPlus Trust Department acquired a new stake in OGE Energy in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Wall Street Analyst Weigh In

OGE has been the subject of a number of research analyst reports. Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and raised their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company increased their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Friday, April 11th. Finally, Barclays increased their price objective on OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.40.

OGE Energy Price Performance

NYSE OGE traded up $0.27 during trading hours on Monday, reaching $44.63. The company's stock had a trading volume of 1,036,116 shares, compared to its average volume of 1,131,139. OGE Energy Corp. has a fifty-two week low of $34.20 and a fifty-two week high of $46.91. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The company's 50-day moving average is $44.61 and its two-hundred day moving average is $43.35. The stock has a market cap of $8.99 billion, a PE ratio of 20.29, a PEG ratio of 3.30 and a beta of 0.61.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The business had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The business's quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. Analysts forecast that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's dividend payout ratio is presently 69.42%.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider now directly owns 72,548 shares of the company's stock, valued at $3,303,835.92. This represents a 8.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company's stock.

OGE Energy Company 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.