AE Wealth Management LLC Has $15.30 Million Position in OGE Energy Corporation (NYSE:OGE)

AE Wealth Management LLC increased its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 23.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 332,894 shares of the utilities provider's stock after acquiring an additional 62,257 shares during the quarter. AE Wealth Management LLC owned approximately 0.17% of OGE Energy worth $15,300,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of OGE Energy in the fourth quarter worth $68,876,000. Merewether Investment Management LP acquired a new stake in OGE Energy during the 4th quarter worth about $44,470,000. Cohen & Steers Inc. purchased a new position in OGE Energy during the 4th quarter valued at about $43,618,000. Massachusetts Financial Services Co. MA acquired a new position in shares of OGE Energy in the 1st quarter valued at about $40,429,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of OGE Energy by 15.8% in the fourth 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 in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock traded down $0.03 on Thursday, reaching $44.96. The stock had a trading volume of 953,887 shares, compared to its average volume of 1,152,271. OGE Energy Corporation has a fifty-two week low of $37.87 and a fifty-two week high of $46.91. The business's 50-day moving average price is $44.26 and its two-hundred day moving average price is $44.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73. The stock has a market cap of $9.05 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million during the quarter, compared to analysts' expectations of $695.59 million. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The business's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. On average, sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.75%. The ex-dividend date is Monday, July 7th. OGE Energy's dividend payout ratio is currently 69.42%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on OGE shares. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research report on Friday, April 11th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Friday, May 9th. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, Wells Fargo & Company raised their price target on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

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.