Massachusetts Financial Services Co. MA Purchases Shares of 879,664 OGE Energy Corporation (NYSE:OGE)

Massachusetts Financial Services Co. MA purchased a new position in OGE Energy Corporation (NYSE:OGE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 879,664 shares of the utilities provider's stock, valued at approximately $40,429,000. Massachusetts Financial Services Co. MA owned approximately 0.44% of OGE Energy at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in OGE Energy during the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management bought a new position in shares of OGE Energy in the first quarter worth about $31,000. Bessemer Group Inc. lifted its stake in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after acquiring an additional 361 shares during the period. Lee Danner & Bass Inc. purchased a new stake in OGE Energy in the fourth quarter worth about $45,000. Finally, NBT Bank N A NY lifted 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 last quarter. 71.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the business's stock in a transaction 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 completion of the sale, the vice president directly owned 43,932 shares of the company's stock, valued at $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction dated 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 transaction, the insider directly owned 72,548 shares of the company's stock, valued at approximately $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

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

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $44.14 on Friday. OGE Energy Corporation has a one year low of $36.66 and a one year high of $46.91. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 3.07 and a beta of 0.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.47. The stock's 50-day moving average is $44.13 and its 200-day moving average is $43.90.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.09 earnings per share. The firm's revenue for the quarter was up 25.3% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post 2.27 earnings per share 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. Investors of record on Monday, July 7th will be paid a $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.82%. OGE Energy's dividend payout ratio is 69.42%.

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.

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