Nisa Investment Advisors LLC Decreases Stake in OGE Energy Corporation (NYSE:OGE)

Nisa Investment Advisors LLC lowered its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,425 shares of the utilities provider's stock after selling 14,300 shares during the quarter. Nisa Investment Advisors LLC owned 0.11% of OGE Energy worth $10,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in OGE Energy during the fourth quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in shares of OGE Energy during the 1st quarter valued at $31,000. Bessemer Group Inc. raised its stake in shares of 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 during the period. Lee Danner & Bass Inc. purchased a new position in shares of OGE Energy in the 4th quarter worth about $45,000. Finally, NBT Bank N A NY grew its position in 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. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Buying and Selling

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the company's 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 completion of the transaction, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

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

OGE Energy Stock Up 0.8%

OGE opened at $44.52 on Friday. OGE Energy Corporation has a 12 month low of $35.87 and a 12 month high of $46.91. The company has a market cap of $8.96 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.08 and a beta of 0.59. 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 company has a 50 day moving average of $44.21 and a 200 day moving average of $43.80.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The business's quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, sell-side analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The company 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 dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 annualized dividend and a yield of 3.78%. OGE Energy's dividend payout ratio is currently 69.42%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.