Cornerstone Select Advisors LLC Takes Position in OGE Energy Corp. (NYSE:OGE)

Cornerstone Select Advisors LLC acquired a new position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,774 shares of the utilities provider's stock, valued at approximately $238,000.

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

Analyst Ratings Changes

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

OGE Energy Stock Up 0.3 %

OGE stock opened at $45.28 on Wednesday. OGE Energy Corp. has a one year low of $34.20 and a one year 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 firm's fifty day moving average is $44.74 and its 200 day moving average is $43.14. The firm has a market cap of $9.12 billion, a PE ratio of 20.58, a P/E/G ratio of 3.30 and a beta of 0.61.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results 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. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The company had revenue of $747.70 million during the quarter, compared to analysts' expectations of $695.59 million. During the same quarter in the prior year, the firm posted $0.09 EPS. OGE Energy's quarterly revenue was up 25.3% compared to the same quarter last year. On average, research analysts forecast that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 7th were given a $0.4213 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.72%. OGE Energy's dividend payout ratio (DPR) is 69.42%.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 approximately $3,303,835.92. This represents a 8.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.