Rhumbline Advisers Sells 6,605 Shares of OGE Energy Corp. (NYSE:OGE)

Rhumbline Advisers lowered its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 580,199 shares of the utilities provider's stock after selling 6,605 shares during the period. Rhumbline Advisers owned 0.29% of OGE Energy worth $26,666,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in shares of OGE Energy by 10.8% in the 4th quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock valued at $2,592,000 after buying an additional 6,135 shares during the period. Jones Financial Companies Lllp increased its position in OGE Energy by 38.2% in the fourth quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider's stock worth $993,000 after purchasing an additional 6,657 shares during the period. Barclays PLC raised its holdings in OGE Energy by 45.1% during the 3rd quarter. Barclays PLC now owns 126,230 shares of the utilities provider's stock worth $5,176,000 after purchasing an additional 39,263 shares during the last quarter. CIBC Asset Management Inc raised its holdings in OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after purchasing an additional 295 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in OGE Energy by 26.2% during the 4th quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock valued at $363,000 after purchasing an additional 1,832 shares during the period. Institutional investors own 71.84% of the company's stock.

Insider Buying and Selling

In other news, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total transaction of $302,841.00. Following the completion of the transaction, the insider now directly owns 72,548 shares of the company's stock, valued at $3,303,835.92. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred 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 sale, the vice president now owns 43,932 shares in the company, valued at $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. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Friday, April 11th. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their price objective on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Finally, Barclays raised 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 research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy Trading Up 0.0%

OGE Energy stock traded up $0.00 during mid-day trading on Monday, hitting $43.79. 761,126 shares of the company's stock were exchanged, compared to its average volume of 1,125,430. The company's 50 day simple moving average is $44.35 and its 200-day simple moving average is $43.54. 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 firm has a market capitalization of $8.82 billion, a P/E ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.59. OGE Energy Corp. has a fifty-two week low of $34.84 and a fifty-two week high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The business had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. 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 firm earned $0.09 EPS. On average, equities analysts anticipate that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 annualized dividend and a yield of 3.85%. OGE Energy's dividend payout ratio is currently 69.42%.

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.