OGE Energy Corporation (NYSE:OGE) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in OGE Energy Corporation by 62.5%, now holding 11,250 shares valued at approximately $517,000 after selling 18,711 shares.
• Analysts have shown increased optimism for OGE Energy, with four upgrades to "buy" ratings and a consensus price target of $46.80.
• OGE Energy recently announced a quarterly dividend of $0.4213 per share, reflecting an annualized yield of 3.7%.

Pacer Advisors Inc. reduced its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,250 shares of the utilities provider's stock after selling 18,711 shares during the period. Pacer Advisors Inc.'s holdings in OGE Energy were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its stake in OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock valued at $254,701,000 after buying an additional 844,679 shares in the last quarter. Northern Trust Corp raised its stake in OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after buying an additional 807,690 shares in the last quarter. Geode Capital Management LLC raised its stake in OGE Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider's stock valued at $138,845,000 after buying an additional 15,415 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in OGE Energy by 5.6% in 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 buying an additional 121,446 shares in the last quarter. Finally, Norges Bank acquired a new stake in OGE Energy in the fourth quarter valued at $68,876,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OGE Energy

In other OGE Energy news, 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 transaction, the insider owned 72,548 shares of the company's stock, valued at $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $500,125.06. Following the completion of the transaction, the vice president directly owned 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OGE shares. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Friday, May 9th. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wells Fargo & Company lifted their target price on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Finally, Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a report on Friday, April 11th. 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.com, OGE Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Up 1.3%

NYSE:OGE traded up $0.58 on Monday, reaching $45.91. The stock had a trading volume of 984,238 shares, compared to its average volume of 1,176,863. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The company has a 50-day moving average of $44.35 and a 200 day moving average of $44.26. The stock has a market cap of $9.25 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57. OGE Energy Corporation has a 12-month low of $38.42 and a 12-month high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $719.97 million. During the same period in the previous year, the business posted $0.51 EPS. The business's revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

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

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.