Inspire Trust Co. N.A. Trims Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Inspire Trust Co. N.A. reduced its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,000 shares of the utilities provider's stock after selling 9,570 shares during the period. OGE Energy accounts for about 1.0% of Inspire Trust Co. N.A.'s investment portfolio, making the stock its 23rd biggest position. Inspire Trust Co. N.A.'s holdings in OGE Energy were worth $4,042,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OGE. PharVision Advisers LLC purchased a new stake in OGE Energy during the fourth quarter valued at approximately $502,000. Two Sigma Advisers LP purchased a new stake in OGE Energy during the fourth quarter valued at approximately $214,000. Scissortail Wealth Management LLC raised its position in OGE Energy by 224,487.5% during the fourth quarter. Scissortail Wealth Management LLC now owns 17,967 shares of the utilities provider's stock valued at $741,000 after purchasing an additional 17,959 shares during the period. Point72 Asset Management L.P. purchased a new stake in OGE Energy during the fourth quarter valued at approximately $29,245,000. Finally, Quantinno Capital Management LP raised its position in OGE Energy by 31.8% during the fourth quarter. Quantinno Capital Management LP now owns 48,054 shares of the utilities provider's stock valued at $1,982,000 after purchasing an additional 11,605 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company's stock.

OGE Energy Trading Up 1.1%

NYSE:OGE traded up $0.48 during midday trading on Friday, hitting $44.27. The stock had a trading volume of 673,720 shares, compared to its average volume of 1,128,334. OGE Energy Corp. has a one year low of $34.20 and a one year high of $46.91. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 3.30 and a beta of 0.61. The stock has a 50-day moving average of $44.58 and a 200 day moving average of $43.46. 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 announced its quarterly earnings data 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 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 revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, sell-side analysts forecast that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, July 7th. This represents a $1.69 annualized dividend and a yield of 3.81%. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OGE. Wells Fargo & Company upped 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 upped their target price on OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research note on Friday, May 9th. Finally, Argus raised 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, OGE Energy has an average rating of "Moderate Buy" and an average price target of $46.40.

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.