Los Angeles Capital Management LLC Takes Position in OGE Energy Corporation (NYSE:OGE)

Los Angeles Capital Management LLC purchased a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 151,861 shares of the utilities provider's stock, valued at approximately $6,980,000. Los Angeles Capital Management LLC owned about 0.08% of OGE Energy at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OGE. Headlands Technologies LLC acquired a new position in OGE Energy in the fourth quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in OGE Energy during the 1st quarter worth approximately $31,000. Bessemer Group Inc. grew its position in OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after purchasing an additional 361 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of OGE Energy during the 1st quarter valued at $36,000. Finally, NBT Bank N A NY boosted its stake in shares of OGE Energy by 100.0% during the 1st quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after buying an additional 600 shares during the period. Institutional investors own 71.84% of the company's stock.

Insider Buying and Selling

In other news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction on 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 directly owned 72,548 shares in the company, valued at $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the transaction, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

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

OGE Energy Price Performance

Shares of OGE stock opened at $45.12 on Tuesday. The firm's 50 day moving average is $44.13 and its 200-day moving average is $43.96. The company has a current ratio of 0.73, a quick ratio of 0.47 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 3.10 and a beta of 0.59. OGE Energy Corporation has a 1 year low of $36.92 and a 1 year high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating 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 the consensus estimate of $695.59 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 25.3% compared to the same quarter last year. Sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's dividend payout ratio is currently 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.

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