Ameriprise Financial Inc. Cuts Stock Position in OGE Energy Corp. (NYSE:OGE)

Ameriprise Financial Inc. decreased its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,110 shares of the utilities provider's stock after selling 20,765 shares during the period. Ameriprise Financial Inc. owned about 0.14% of OGE Energy worth $11,390,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction dated 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 now owns 72,548 shares in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by company insiders.

OGE Energy Stock Performance

Shares of OGE stock traded down $0.41 during mid-day trading on Thursday, reaching $43.80. 734,946 shares of the company's stock traded hands, compared to its average volume of 1,129,976. 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 has a market capitalization of $8.82 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61. OGE Energy Corp. has a 12 month low of $34.20 and a 12 month high of $46.91. The firm has a 50 day moving average price of $44.61 and a two-hundred day moving average price of $43.40.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. On average, research analysts forecast that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's payout ratio is 69.42%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OGE. Barclays raised their price target on 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 raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Friday, April 11th. Wells Fargo & Company raised their target price on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.40.

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.