Miller Howard Investments Inc. NY Sells 6,239 Shares of OGE Energy Corporation (NYSE:OGE)

Miller Howard Investments Inc. NY trimmed its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 705,974 shares of the utilities provider's stock after selling 6,239 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.35% of OGE Energy worth $32,447,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OGE. Norges Bank purchased a new stake in OGE Energy during the 4th quarter valued at $68,876,000. Merewether Investment Management LP purchased a new position in shares of OGE Energy in the 4th quarter worth $44,470,000. Cohen & Steers Inc. purchased a new position in shares of OGE Energy in the 4th quarter worth $43,618,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of OGE Energy by 15.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock worth $254,701,000 after buying an additional 844,679 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after buying an additional 807,690 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

NYSE OGE traded up $0.36 on Friday, hitting $44.59. 581,456 shares of the company traded hands, compared to its average volume of 1,116,302. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 18.43, a P/E/G 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 business's 50 day moving average price is $44.32 and its 200-day moving average price is $43.70. OGE Energy Corporation has a 52-week low of $34.94 and a 52-week high of $46.91.

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, beating the consensus estimate of $0.22 by $0.09. The company 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%. OGE Energy's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Equities analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. 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 3.78%. OGE Energy's dividend payout ratio is presently 69.42%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OGE. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Argus upgraded 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. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company lifted their target price on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

Insider Transactions at OGE Energy

In other OGE Energy news, 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 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 trade represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction dated 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 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. 0.55% of the stock is owned by company insiders.

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.