Hennion & Walsh Asset Management Inc. Raises Stake in OGE Energy Corp. (NYSE:OGE)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 246.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,153 shares of the utilities provider's stock after acquiring an additional 15,046 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in OGE Energy were worth $972,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in OGE Energy in the fourth quarter valued at $27,000. Bessemer Group Inc. increased its stake in shares of OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after buying an additional 361 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of OGE Energy during the fourth quarter worth about $35,000. Principal Securities Inc. lifted its stake in shares of OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after acquiring an additional 659 shares during the period. Finally, BankPlus Trust Department acquired a new position in shares of OGE Energy in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Stock Up 0.5%

OGE Energy stock traded up $0.24 during midday trading on Tuesday, reaching $44.01. The stock had a trading volume of 882,900 shares, compared to its average volume of 1,125,479. The company has a fifty day moving average price of $44.26 and a two-hundred day moving average price of $43.55. The company has a market capitalization of $8.86 billion, a P/E ratio of 20.00, a PEG ratio of 3.30 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12 month low of $34.84 and a 12 month high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for 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 quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. As a group, equities analysts expect 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. Investors of record on Monday, July 7th will be given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Monday, July 7th. OGE Energy's payout ratio is currently 69.42%.

Insider Buying and Selling at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were 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 in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction on Wednesday, May 28th. The shares were 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 trade represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

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

About OGE Energy

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.