Cresset Asset Management LLC Sells 13,202 Shares of OGE Energy Corp. (NYSE:OGE)

Cresset Asset Management LLC reduced its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 66.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,785 shares of the utilities provider's stock after selling 13,202 shares during the period. Cresset Asset Management LLC's holdings in OGE Energy were worth $280,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers raised its stake in shares of OGE Energy by 10.8% in the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after purchasing an additional 6,135 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of OGE Energy by 9.1% in the fourth quarter. Captrust Financial Advisors now owns 29,552 shares of the utilities provider's stock worth $1,219,000 after purchasing an additional 2,472 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of OGE Energy by 1.4% in the fourth quarter. Baird Financial Group Inc. now owns 80,376 shares of the utilities provider's stock worth $3,316,000 after purchasing an additional 1,132 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of OGE Energy by 245.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 589,867 shares of the utilities provider's stock worth $24,332,000 after purchasing an additional 418,906 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of OGE Energy by 3.3% in the fourth quarter. BNP Paribas Financial Markets now owns 35,907 shares of the utilities provider's stock worth $1,481,000 after purchasing an additional 1,155 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 approximately $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

OGE Energy Stock Performance

OGE Energy stock traded up $0.48 during mid-day trading on Friday, reaching $44.27. 673,720 shares of the stock traded hands, compared to its average volume of 1,129,099. The stock has a market capitalization of $8.91 billion, a PE ratio of 20.12, a price-to-earnings-growth 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 12-month low of $34.20 and a 12-month high of $46.91. The business's 50-day moving average is $44.58 and its 200-day moving average is $43.45.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating 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%. OGE Energy's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's dividend payout ratio is presently 69.42%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OGE. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Friday, May 9th. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Friday, April 11th. Wells Fargo & Company boosted their price target on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Finally, Barclays upped their price objective 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, OGE Energy presently has an average rating of "Moderate Buy" and an average price target of $46.40.

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.