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Inscription Capital LLC Buys Shares of 7,000 OGE Energy Corporation (NYSE:OGE)

OGE Energy logo with Utilities background

Inscription Capital LLC acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,000 shares of the utilities provider's stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cetera Investment Advisers increased its stake in OGE Energy by 10.8% during the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after acquiring an additional 6,135 shares during the last quarter. Jones Financial Companies Lllp increased its stake in OGE Energy by 38.2% during the fourth quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider's stock worth $993,000 after acquiring an additional 6,657 shares during the last quarter. CIBC Asset Management Inc increased its position in OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after purchasing an additional 295 shares in the last quarter. Hsbc Holdings PLC increased its position in OGE Energy by 26.2% during the 4th quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock worth $363,000 after purchasing an additional 1,832 shares in the last quarter. Finally, Jane Street Group LLC increased its position in OGE Energy by 3.4% during the 4th quarter. Jane Street Group LLC now owns 42,546 shares of the utilities provider's stock worth $1,755,000 after purchasing an additional 1,401 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Insiders Place Their Bets

In other news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction that occurred 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 owns 72,548 shares in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the transaction, the vice president now directly owns 43,932 shares of the company's stock, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

OGE Energy Stock Up 0.2%

Shares of OGE Energy stock traded up $0.08 during trading hours on Friday, hitting $43.96. 1,604,773 shares of the company's stock traded hands, compared to its average volume of 1,103,712. The stock has a 50 day simple moving average of $44.41 and a 200-day simple moving average of $43.57. The company has a quick ratio of 0.47, a current ratio of 0.73 and a debt-to-equity ratio of 1.11. The company has a market cap of $8.85 billion, a PE ratio of 18.17, a PEG ratio of 3.06 and a beta of 0.59. OGE Energy Corporation has a twelve month low of $34.92 and a twelve month high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The firm had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. During the same quarter last year, the firm earned $0.09 EPS. OGE Energy's quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal 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 issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.83%. The ex-dividend date is Monday, July 7th. OGE Energy's dividend payout ratio is currently 69.42%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OGE shares. Argus raised 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 report on Friday, April 11th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company increased their target price 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. Finally, Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

Read Our Latest Analysis on OGE

About OGE Energy

(Free Report)

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.

See Also

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

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