Inspire Trust Co. N.A. Sells 9,570 Shares of OGE Energy Corp. (NYSE:OGE)

Inspire Trust Co. N.A. cut its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,000 shares of the utilities provider's stock after selling 9,570 shares during the quarter. OGE Energy comprises approximately 1.0% of Inspire Trust Co. N.A.'s portfolio, making the stock its 23rd biggest position. Inspire Trust Co. N.A.'s holdings in OGE Energy were worth $4,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of OGE Energy during the fourth quarter valued at $27,000. Bessemer Group Inc. boosted its position in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after purchasing an additional 361 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in OGE Energy in the fourth quarter worth about $35,000. Principal Securities Inc. boosted its position in 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 purchasing an additional 659 shares during the last quarter. Finally, BankPlus Trust Department purchased a new position in OGE Energy in the fourth quarter worth about $44,000. 71.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction 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 sale, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

OGE has been the topic of several research reports. Wells Fargo & Company raised their target price on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Barclays lifted 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. 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.40.

OGE Energy Price Performance

Shares of OGE Energy stock traded up $0.26 on Tuesday, hitting $44.50. 232,738 shares of the company traded hands, compared to its average volume of 1,124,809. The stock has a market capitalization of $8.96 billion, a P/E ratio of 20.23, 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 quick ratio of 0.51 and a current ratio of 0.73. OGE Energy Corp. has a 52 week low of $34.20 and a 52 week high of $46.91. The business has a 50-day simple moving average of $44.56 and a 200 day simple moving average of $43.48.

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

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's payout ratio is currently 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.