Legacy Financial Group Inc. Sells 6,699 Shares of OGE Energy Corporation (NYSE:OGE)

Legacy Financial Group Inc. decreased its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 43.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,789 shares of the utilities provider's stock after selling 6,699 shares during the quarter. Legacy Financial Group Inc.'s holdings in OGE Energy were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in OGE Energy during the fourth quarter valued at approximately $1,800,000. Raymond James Financial Inc. bought a new position in OGE Energy during the fourth quarter valued at approximately $11,862,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in OGE Energy by 10.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,431 shares of the utilities provider's stock valued at $2,039,000 after purchasing an additional 4,567 shares during the period. Farther Finance Advisors LLC lifted its position in OGE Energy by 219.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,121 shares of the utilities provider's stock valued at $129,000 after purchasing an additional 2,144 shares during the period. Finally, Swiss National Bank lifted its position in OGE Energy by 0.9% during the fourth quarter. Swiss National Bank now owns 395,000 shares of the utilities provider's stock valued at $16,294,000 after purchasing an additional 3,600 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Transactions at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of OGE Energy 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 transaction, the vice president directly owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of OGE Energy 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 sale, the insider owned 72,548 shares of the company's stock, valued at $3,303,835.92. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

OGE Energy Price Performance

Shares of NYSE:OGE traded down $0.23 on Friday, reaching $44.29. The company's stock had a trading volume of 730,017 shares, compared to its average volume of 1,114,492. OGE Energy Corporation has a 52-week low of $36.17 and a 52-week high of $46.91. The company has a market cap of $8.92 billion, a P/E ratio of 18.30, a PEG ratio of 3.09 and a beta of 0.59. The company has a 50-day simple moving average of $44.19 and a 200 day simple moving average of $43.84. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.48% and a return on equity of 10.58%. The business had revenue of $747.70 million during the quarter, compared to analysts' expectations of $695.59 million. During the same period last year, the company posted $0.09 EPS. The business's revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a dividend of $0.4213 per share. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. OGE Energy's dividend payout ratio is presently 69.42%.

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.