First Trust Advisors LP Sells 557,781 Shares of OGE Energy Corporation $OGE

Key Points

• First Trust Advisors LP cut its stake in OGE Energy by 21.8% in the first quarter, selling 557,781 shares and leaving it with about 2.0 million shares valued at roughly $96 million.
• OGE Energy’s latest quarterly results showed EPS of $0.24, matching analyst expectations, while revenue came in at $752.6 million, well above forecasts.
• The company declared a quarterly dividend of $0.425 per share, implying an annualized yield of 3.4%; analysts currently have an average Hold rating with a consensus target price of $49.80.

First Trust Advisors LP reduced its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,002,705 shares of the utilities provider's stock after selling 557,781 shares during the quarter. First Trust Advisors LP owned approximately 0.97% of OGE Energy worth $96,050,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of OGE Energy during the fourth quarter worth approximately $119,028,000. Morgan Stanley raised its stake in OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock valued at $197,625,000 after buying an additional 2,350,574 shares during the period. Cohen & Steers Inc. acquired a new stake in OGE Energy during the fourth quarter worth approximately $68,460,000. Cbre Investment Management Listed Real Assets LLC grew its position in OGE Energy by 85.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider's stock worth $94,605,000 after buying an additional 1,022,863 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in OGE Energy in the fourth quarter valued at approximately $33,929,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $49.92 on Friday. The firm's 50 day moving average price is $48.18 and its 200-day moving average price is $47.09. The stock has a market capitalization of $10.30 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 3.67 and a beta of 0.53. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.32.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. The business had revenue of $752.60 million during the quarter, compared to analysts' expectations of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business's revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Equities research analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy's dividend payout ratio (DPR) is 75.89%.

Wall Street Analyst Weigh In

OGE has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH lifted their target price on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Barclays increased their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Wells Fargo & Company increased their target price on shares of OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Weiss Ratings upgraded OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Morgan Stanley set a $51.00 price target on shares of OGE Energy in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $49.80.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 7,345 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares of the company's stock, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company's stock.

OGE Energy Company Profile

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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