BancFirst Trust & Investment Management Lowers Position in OGE Energy Corp. (NYSE:OGE)

BancFirst Trust & Investment Management trimmed its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 41.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,010 shares of the utilities provider's stock after selling 26,698 shares during the quarter. OGE Energy accounts for approximately 0.8% of BancFirst Trust & Investment Management's portfolio, making the stock its 12th largest holding. BancFirst Trust & Investment Management's holdings in OGE Energy were worth $1,684,000 at the end of the most recent reporting period.

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

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 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 now owns 72,548 shares of the company's stock, valued at $3,303,835.92. This represents a 8.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president now owns 43,932 shares in the company, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

OGE Energy Stock Performance

Shares of NYSE:OGE traded up $0.24 during midday trading on Tuesday, reaching $44.01. 882,900 shares of the company traded hands, compared to its average volume of 1,124,464. OGE Energy Corp. has a 12 month low of $34.84 and a 12 month high of $46.91. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The firm's fifty day moving average price is $44.30 and its two-hundred day moving average price is $43.54.

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 analysts' consensus estimates 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%. The firm's revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. On average, equities analysts expect that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, July 7th. OGE Energy's payout ratio is currently 69.42%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Argus raised 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. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a report 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, OGE Energy has an average rating of "Moderate Buy" and a consensus 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.