GAMMA Investing LLC Raises Position in OGE Energy Corp. (NYSE:OGE)

GAMMA Investing LLC increased its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 5,760.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 321,352 shares of the utilities provider's stock after buying an additional 315,869 shares during the period. GAMMA Investing LLC owned 0.16% of OGE Energy worth $14,769,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of OGE Energy during the fourth quarter worth $68,876,000. Merewether Investment Management LP bought a new stake in shares of OGE Energy during the 4th quarter valued at $44,470,000. Cohen & Steers Inc. purchased a new stake in OGE Energy during the 4th quarter worth about $43,618,000. T. Rowe Price Investment Management Inc. lifted 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 in the last quarter. Finally, Northern Trust Corp boosted its stake in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after purchasing an additional 807,690 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the sale, the vice president now directly owns 43,932 shares in the company, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OGE shares. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company upped their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research note on Friday, April 11th. Finally, Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $45.00 to $47.00 in a report on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, OGE Energy has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Price Performance

Shares of NYSE OGE traded up $0.24 during mid-day trading on Tuesday, reaching $44.01. 882,900 shares of the company were exchanged, compared to its average volume of 1,125,479. OGE Energy Corp. has a 52 week low of $34.84 and a 52 week high of $46.91. The company's 50 day moving average price is $44.26 and its 200 day moving average price is $43.55. The stock has a market capitalization of $8.86 billion, a PE ratio of 20.00, a PEG 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.

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

OGE Energy Dividend Announcement

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 issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Monday, July 7th. OGE Energy's dividend payout ratio is 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.