Comerica Bank Lowers Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Comerica Bank lowered its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,678 shares of the utilities provider's stock after selling 6,155 shares during the period. Comerica Bank's holdings in OGE Energy were worth $3,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of OGE Energy in the fourth quarter valued at approximately $68,876,000. Cohen & Steers Inc. purchased a new position in OGE Energy in the 4th quarter valued at $43,618,000. T. Rowe Price Investment Management Inc. boosted its stake in OGE Energy by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock worth $254,701,000 after purchasing an additional 844,679 shares during the last quarter. Northern Trust Corp grew its holdings in shares of OGE Energy by 29.3% during the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after buying an additional 807,690 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of OGE Energy in the fourth quarter valued at about $13,308,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

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

OGE Energy Stock Performance

Shares of NYSE:OGE traded up $0.01 during midday trading on Friday, hitting $44.35. The stock had a trading volume of 1,207,093 shares, compared to its average volume of 1,127,348. OGE Energy Corp. has a 1 year low of $34.20 and a 1 year high of $46.91. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of $44.67 and a two-hundred day moving average price of $43.20. The company has a market capitalization of $8.93 billion, a PE ratio of 20.16, a P/E/G ratio of 3.30 and a beta of 0.61.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. The firm 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%. OGE Energy's quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. As a group, equities analysts predict that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 7th were given a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. OGE Energy's payout ratio is 69.42%.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total transaction of $302,841.00. Following the completion of the transaction, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. The trade was a 8.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company's stock.

About OGE Energy

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.