OGE Energy Corp. (NYSE:OGE) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,338 shares of the utilities provider's stock after selling 13,621 shares during the period. Gateway Investment Advisers LLC owned about 0.06% of OGE Energy worth $5,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OGE. Headlands Technologies LLC acquired a new position in OGE Energy during the fourth quarter worth about $27,000. Bessemer Group Inc. increased 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of OGE Energy during the 4th quarter worth approximately $35,000. Principal Securities Inc. raised its position in shares of OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after purchasing an additional 659 shares during the last quarter. Finally, BankPlus Trust Department purchased a new stake in OGE Energy in the 4th quarter valued at approximately $44,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the business's 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 sale, the insider now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president now owns 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 disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

OGE Energy Price Performance

OGE stock opened at $43.80 on Friday. OGE Energy Corp. has a 52-week low of $34.84 and a 52-week high of $46.91. The stock's fifty day simple moving average is $44.35 and its 200-day simple moving average is $43.55. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 3.30 and a beta of 0.60.

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, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The firm had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. During the same period in the prior year, the business 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 research analysts expect that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The business 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 yield of 3.85%. The ex-dividend date is Monday, July 7th. OGE Energy's dividend payout ratio (DPR) is 69.42%.

Analysts Set New Price Targets

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

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.