Massachusetts Financial Services Co. MA Makes New $40.43 Million Investment in OGE Energy Corporation (NYSE:OGE)

Massachusetts Financial Services Co. MA bought a new stake in 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 bought 879,664 shares of the utilities provider's stock, valued at approximately $40,429,000. Massachusetts Financial Services Co. MA owned about 0.44% of OGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of OGE. Vanguard Group Inc. increased its stake in shares of OGE Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider's stock worth $883,311,000 after purchasing an additional 203,129 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock valued at $254,701,000 after purchasing an additional 844,679 shares during the period. Northern Trust Corp increased its holdings in OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after purchasing an additional 807,690 shares during the period. Geode Capital Management LLC increased its holdings in OGE Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider's stock valued at $138,845,000 after purchasing an additional 15,415 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in OGE Energy by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,907 shares of the utilities provider's stock worth $94,913,000 after acquiring an additional 121,446 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Trading Up 1.3%

NYSE OGE traded up $0.58 during trading on Monday, hitting $45.12. 1,248,805 shares of the company's stock traded hands, compared to its average volume of 1,109,838. The firm has a market cap of $9.08 billion, a P/E ratio of 18.41, a PEG ratio of 3.10 and a beta of 0.59. The stock has a fifty day moving average of $44.13 and a two-hundred day moving average of $43.96. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.47. OGE Energy Corporation has a 12-month low of $36.92 and a 12-month high of $46.91.

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, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The business had revenue of $747.70 million during the quarter, compared to analysts' expectations of $695.59 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm's quarterly revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts expect that OGE Energy Corporation will post 2.27 EPS for the current 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 given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's dividend payout ratio (DPR) is currently 69.42%.

Insider Activity at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, the vice president owned 43,932 shares in the company, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider directly owned 72,548 shares in the company, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on OGE shares. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company lifted 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 note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, OGE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $46.80.

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.