Assetmark Inc. boosted its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,043 shares of the utilities provider's stock after purchasing an additional 13,442 shares during the period. Assetmark Inc. owned approximately 0.19% of OGE Energy worth $17,283,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Cetera Investment Advisers increased its stake in shares of OGE Energy by 1.4% in the first quarter. Cetera Investment Advisers now owns 63,696 shares of the utilities provider's stock worth $2,927,000 after acquiring an additional 865 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of OGE Energy by 88.1% during the first quarter. Avantax Advisory Services Inc. now owns 36,595 shares of the utilities provider's stock worth $1,682,000 after purchasing an additional 17,145 shares during the last quarter. Kovack Advisors Inc. bought a new stake in shares of OGE Energy during the first quarter valued at approximately $212,000. AE Wealth Management LLC boosted its stake in shares of OGE Energy by 23.0% in the 1st quarter. AE Wealth Management LLC now owns 332,894 shares of the utilities provider's stock valued at $15,300,000 after purchasing an additional 62,257 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new position in shares of OGE Energy in the 1st quarter worth $55,000. Institutional investors and hedge funds own 71.84% of the company's stock.
Analyst Upgrades and Downgrades
OGE has been the subject of several research analyst reports. Argus upgraded 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. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company increased their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.80.
Check Out Our Latest Analysis on OGE Energy
OGE Energy Price Performance
NYSE:OGE traded up $0.37 during trading hours on Wednesday, hitting $45.28. 215,321 shares of the stock traded hands, compared to its average volume of 1,168,934. The stock has a 50 day moving average price of $44.28 and a 200 day moving average price of $44.15. 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 $9.12 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 3.08 and a beta of 0.59. OGE Energy Corporation has a 1 year low of $38.42 and a 1 year high of $46.91.
OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The company had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. During the same quarter last year, the company earned $0.51 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.
OGE Energy Dividend Announcement
The company also recently declared 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 was Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.72%. OGE Energy's payout ratio is 69.42%.
Insider Activity at OGE Energy
In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president owned 43,932 shares of the company's stock, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.
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.
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