Asset Management One Co. Ltd. Sells 6,292 Shares of OGE Energy Corporation (NYSE:OGE)

Asset Management One Co. Ltd. trimmed its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 17.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,940 shares of the utilities provider's stock after selling 6,292 shares during the period. Asset Management One Co. Ltd.'s holdings in OGE Energy were worth $1,376,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in OGE Energy in the 4th quarter valued at $68,876,000. Merewether Investment Management LP bought a new position in OGE Energy in the fourth quarter valued at about $44,470,000. Cohen & Steers Inc. acquired a new stake in OGE Energy in the fourth quarter worth about $43,618,000. T. Rowe Price Investment Management Inc. raised its holdings in OGE Energy by 15.8% during the 4th 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 during the last quarter. Finally, Northern Trust Corp raised its holdings in OGE Energy by 29.3% during the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after purchasing an additional 807,690 shares during the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Up 0.8%

Shares of NYSE OGE traded up $0.36 during mid-day trading on Thursday, reaching $44.59. 581,456 shares of the company's stock were exchanged, compared to its average volume of 1,183,139. The company has a current ratio of 0.73, a quick ratio of 0.47 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 3.11 and a beta of 0.59. The business has a fifty day simple moving average of $44.33 and a 200 day simple moving average of $43.68. OGE Energy Corporation has a twelve month low of $34.94 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 (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The firm's revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, equities analysts expect that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Monday, July 7th. OGE Energy's dividend payout ratio is currently 69.42%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at OGE Energy

In other OGE Energy 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 transaction of $302,841.00. Following the transaction, the insider owned 72,548 shares in the company, valued at $3,303,835.92. This trade represents a 8.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the firm'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 transaction of $500,125.06. Following the completion of the sale, the vice president owned 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

OGE Energy 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.