Hennion & Walsh Asset Management Inc. Acquires 15,046 Shares of OGE Energy Corp. (NYSE:OGE)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 246.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,153 shares of the utilities provider's stock after acquiring an additional 15,046 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in OGE Energy were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Merit Financial Group LLC boosted its position in OGE Energy by 5.9% during the 1st quarter. Merit Financial Group LLC now owns 6,887 shares of the utilities provider's stock valued at $317,000 after acquiring an additional 382 shares in the last quarter. Summit Global Investments boosted its position in OGE Energy by 25.5% during the 1st quarter. Summit Global Investments now owns 20,741 shares of the utilities provider's stock valued at $953,000 after acquiring an additional 4,216 shares in the last quarter. GAMMA Investing LLC boosted its position in OGE Energy by 5,760.9% during the 1st quarter. GAMMA Investing LLC now owns 321,352 shares of the utilities provider's stock valued at $14,769,000 after acquiring an additional 315,869 shares in the last quarter. Versant Capital Management Inc boosted its position in OGE Energy by 337.3% during the 1st quarter. Versant Capital Management Inc now owns 1,924 shares of the utilities provider's stock valued at $88,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in OGE Energy by 72.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,879 shares of the utilities provider's stock valued at $1,068,000 after acquiring an additional 10,901 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

OGE has been the topic of several research reports. Wells Fargo & Company lifted their price objective on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $45.00 to $47.00 in a research report on Thursday. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research report on Friday, April 11th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy Stock Performance

Shares of OGE opened at $43.80 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The business's 50 day moving average price is $44.35 and its 200-day moving average price is $43.54. OGE Energy Corp. has a 52 week low of $34.84 and a 52 week high of $46.91. The stock has a market cap of $8.82 billion, a P/E ratio of 19.91, a P/E/G ratio of 3.30 and a beta of 0.60.

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. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The firm had revenue of $747.70 million for the quarter, compared to analysts' expectations of $695.59 million. During the same period in the previous year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 25.3% compared to the same quarter last year. Equities research analysts anticipate that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.4213 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.69 annualized dividend and a yield of 3.85%. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Insider Activity at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 directly owns 72,548 shares in the company, valued at $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.

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