Cetera Investment Advisers Buys 6,135 Shares of OGE Energy Corp. (NYSE:OGE)

Cetera Investment Advisers lifted its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,831 shares of the utilities provider's stock after purchasing an additional 6,135 shares during the quarter. Cetera Investment Advisers' holdings in OGE Energy were worth $2,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC lifted its stake in shares of OGE Energy by 14.2% in the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider's stock valued at $268,000 after acquiring an additional 810 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of OGE Energy in the 4th quarter valued at about $252,000. Jones Financial Companies Lllp lifted its stake in shares of OGE Energy by 38.2% in the 4th quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider's stock valued at $993,000 after acquiring an additional 6,657 shares during the last quarter. Barclays PLC lifted its stake in shares of OGE Energy by 45.1% in the 3rd quarter. Barclays PLC now owns 126,230 shares of the utilities provider's stock valued at $5,176,000 after acquiring an additional 39,263 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after acquiring an additional 295 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider now owns 72,548 shares of the company's stock, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in 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 note on Friday, April 11th. Wells Fargo & Company boosted their target price on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Barclays upped their price target on OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, OGE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

OGE Energy Trading Up 1.1%

OGE traded up $0.48 during midday trading on Friday, reaching $44.27. 673,720 shares of the company's stock traded hands, compared to its average volume of 1,129,099. The firm has a fifty day moving average of $44.58 and a two-hundred day moving average of $43.45. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 3.30 and a beta of 0.61. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. OGE Energy Corp. has a 52 week low of $34.20 and a 52 week high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The business had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. During the same quarter in the prior year, the company posted $0.09 EPS. OGE Energy's quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities analysts anticipate that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's dividend payout ratio is currently 69.42%.

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.