OGE Energy Corporation (NYSE:OGE) Shares Sold 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. reduced its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 0.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,219,631 shares of the utilities provider's stock after selling 5,743 shares during the quarter. OGE Energy comprises approximately 1.4% of Reaves W H & Co. Inc.'s holdings, making the stock its 26th largest holding. Reaves W H & Co. Inc. owned 0.61% of OGE Energy worth $56,054,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OGE. T. Rowe Price Investment Management Inc. grew 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 in the last quarter. Northern Trust Corp lifted its holdings 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 valued at $146,933,000 after acquiring an additional 807,690 shares during the last quarter. Geode Capital Management LLC increased its stake in OGE Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider's stock worth $138,845,000 after acquiring an additional 15,415 shares during the last quarter. Dimensional Fund Advisors LP raised its position in OGE Energy by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,907 shares of the utilities provider's stock valued at $94,913,000 after purchasing an additional 121,446 shares during the period. Finally, Legal & General Group Plc raised its position in OGE Energy by 10.9% during the fourth quarter. Legal & General Group Plc now owns 1,108,618 shares of the utilities provider's stock valued at $45,730,000 after purchasing an additional 109,184 shares during the period. Institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.4%

Shares of NYSE OGE traded up $0.19 during mid-day trading on Thursday, reaching $45.80. The company had a trading volume of 1,034,746 shares, compared to its average volume of 1,087,825. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57. OGE Energy Corporation has a 52 week low of $38.80 and a 52 week high of $46.91. The business's 50-day moving average is $44.47 and its 200-day moving average is $44.32. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%. The company had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. OGE Energy's revenue was up 11.9% on a year-over-year basis. Equities analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

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

Insider Activity at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction dated 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. This 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. Corporate insiders own 0.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OGE shares. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research report on Friday, April 11th. Wells Fargo & Company boosted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.