Allianz Asset Management GmbH Sells 311,486 Shares of OGE Energy Corporation (NYSE:OGE)

Allianz Asset Management GmbH cut its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 919,105 shares of the utilities provider's stock after selling 311,486 shares during the quarter. Allianz Asset Management GmbH owned 0.46% of OGE Energy worth $42,242,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of OGE Energy during the first quarter valued at $6,980,000. Midwest Professional Planners LTD. raised its position in OGE Energy by 2.6% in the 1st quarter. Midwest Professional Planners LTD. now owns 24,097 shares of the utilities provider's stock worth $1,107,000 after buying an additional 612 shares during the last quarter. First Command Advisory Services Inc. bought a new position in OGE Energy during the 1st quarter valued at about $36,000. Massachusetts Financial Services Co. MA bought a new position in OGE Energy during the 1st quarter valued at about $40,429,000. Finally, Sigma Planning Corp purchased a new stake in shares of OGE Energy during the 1st quarter valued at about $227,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock traded down $0.02 on Friday, hitting $44.90. 1,086,757 shares of the company's stock were exchanged, compared to its average volume of 1,144,356. OGE Energy Corporation has a 1 year low of $38.01 and a 1 year high of $46.91. The company has a 50-day simple moving average of $44.29 and a 200-day simple moving average of $44.09. 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 capitalization of $9.04 billion, a PE ratio of 18.55, a PEG ratio of 3.13 and a beta of 0.59.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to analysts' expectations of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. OGE Energy's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. As a group, equities analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.75%. OGE Energy's payout ratio is currently 69.42%.

Insider Buying and Selling

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president directly owned 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was 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. Insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in 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 report on Friday, April 11th. Barclays upgraded shares of 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. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company upped their price objective on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.80.

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.