OGE Energy Corporation (NYSE:OGE) Stock Holdings Lessened by Reaves W H & Co. Inc.

Key Points

• Reaves W H & Co. Inc. reduced its holdings in OGE Energy by 0.5%, now owning 1,219,631 shares, valued at approximately $56 million, making up 1.4% of their portfolio.
• Several research firms have upgraded OGE Energy’s rating, with Argus upgrading it to a "buy" and setting a target price of $47.00.
• OGE Energy recently announced a quarterly dividend of $0.4213, yielding 3.7%, with a dividend payout ratio of approximately 68.85%.

Reaves W H & Co. Inc. lowered its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,219,631 shares of the utilities provider's stock after selling 5,743 shares during the period. OGE Energy makes up approximately 1.4% of Reaves W H & Co. Inc.'s portfolio, making the stock its 26th biggest holding. Reaves W H & Co. Inc. owned approximately 0.61% of OGE Energy worth $56,054,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OGE. Merewether Investment Management LP purchased a new position in OGE Energy during the fourth quarter worth approximately $44,470,000. Cohen & Steers Inc. purchased a new position in OGE Energy during the fourth quarter worth approximately $43,618,000. Massachusetts Financial Services Co. MA purchased a new position in OGE Energy during the first quarter worth approximately $40,429,000. T. Rowe Price Investment Management Inc. raised its stake in OGE Energy by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock worth $254,701,000 after purchasing an additional 844,679 shares during the period. Finally, Northern Trust Corp raised its stake in OGE Energy by 29.3% during the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after purchasing an additional 807,690 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of OGE Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company raised 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. Barclays raised shares of 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. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research note on Friday, April 11th. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $46.80.

OGE Energy Stock Down 1.0%

OGE traded down $0.45 during trading hours on Friday, reaching $45.39. 959,589 shares of the stock traded hands, compared to its average volume of 1,083,960. The firm's fifty day simple moving average is $44.49 and its two-hundred day simple moving average is $44.33. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 3.19 and a beta of 0.57. OGE Energy Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $46.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). The firm had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. OGE Energy's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. As a group, analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, July 7th. OGE Energy's dividend payout ratio (DPR) is currently 68.85%.

Insiders Place Their Bets

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were 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 of the company's stock, valued at $1,935,643.92. This trade represents a 20.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.