OGE Energy Corporation (NYSE:OGE) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in OGE Energy Corporation by 20.9%, owning 144,167 shares worth $6.63 million after selling 38,192 shares during the first quarter.
• Several institutional investors have made significant investments in OGE Energy, including Norges Bank, which purchased a new position worth approximately $68.88 million during the fourth quarter.
• OGE Energy reported a net margin of 15.27% and earnings per share of $0.53 for its most recent quarter, missing the estimate of $0.58 by $0.05.

Mackenzie Financial Corp trimmed its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,167 shares of the utilities provider's stock after selling 38,192 shares during the period. Mackenzie Financial Corp owned 0.07% of OGE Energy worth $6,626,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OGE. Headlands Technologies LLC bought a new stake in OGE Energy in the 4th quarter worth about $27,000. Bessemer Group Inc. increased its holdings in OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 361 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of OGE Energy in the 1st quarter valued at about $31,000. First Command Advisory Services Inc. bought a new position in OGE Energy during the first quarter valued at $36,000. Finally, NBT Bank N A NY boosted its position in shares of OGE Energy by 100.0% during the first 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.

OGE Energy Stock Performance

Shares of NYSE OGE traded up $0.19 during midday trading on Wednesday, reaching $45.61. The company had a trading volume of 1,027,942 shares, compared to its average volume of 1,174,448. The stock has a market cap of $9.19 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.20 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 1 year low of $38.67 and a 1 year high of $46.91. The business's 50-day simple moving average is $44.40 and its 200 day simple moving average is $44.29.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). The business had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, July 7th. OGE Energy's dividend payout ratio (DPR) is currently 68.85%.

Analysts Set New Price Targets

Several brokerages have commented on OGE. 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. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Friday, May 9th. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their target price 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 stock an "equal weight" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, OGE Energy presently has an average rating of "Moderate Buy" and an average price target of $46.80.

Insiders Place Their Bets

In other news, VP Donnie O. Jones sold 11,351 shares of the 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 sale, the vice president directly owned 43,932 shares of the company's stock, valued at $1,935,643.92. This represents a 20.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.53% of the company's stock.

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.