BNC Wealth Management LLC Takes Position in OGE Energy Corp. (NYSE:OGE)

BNC Wealth Management LLC purchased a new position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,000 shares of the utilities provider's stock, valued at approximately $368,000.

Several other hedge funds also recently added to or reduced their stakes in OGE. Norges Bank purchased a new position in OGE Energy in the 4th quarter worth about $68,876,000. Merewether Investment Management LP bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $44,470,000. Cohen & Steers Inc. purchased a new position in OGE Energy during the 4th quarter worth $43,618,000. T. Rowe Price Investment Management Inc. increased 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 period. Finally, Northern Trust Corp raised its position 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 valued at $146,933,000 after purchasing an additional 807,690 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Insider Transactions at OGE Energy

In other 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 transaction of $302,841.00. Following the sale, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy 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 completion of the transaction, the vice president now owns 43,932 shares of the company's stock, 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. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OGE shares. Wells Fargo & Company upped their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a report on Friday, April 11th. Barclays raised shares of 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 report on Thursday, June 5th. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of NYSE OGE remained flat at $43.87 during midday trading on Tuesday. 679,531 shares of the company's stock were exchanged, compared to its average volume of 1,104,830. OGE Energy Corp. has a fifty-two week low of $34.84 and a fifty-two week high of $46.91. The company's 50-day moving average is $44.39 and its 200-day moving average is $43.55. 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 company has a market cap of $8.83 billion, a PE ratio of 19.94, a P/E/G ratio of 3.30 and a beta of 0.59.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.09 EPS. Analysts predict that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, July 7th. OGE Energy's dividend payout ratio is currently 69.42%.

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.