Robertson Stephens Wealth Management LLC Takes $473,000 Position in OGE Energy Corporation (NYSE:OGE)

Robertson Stephens Wealth Management LLC bought a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,301 shares of the utilities provider's stock, valued at approximately $473,000.

A number of other large investors have also recently made changes to their positions in OGE. Norges Bank purchased a new stake in shares of OGE Energy during the fourth quarter valued at $68,876,000. Merewether Investment Management LP purchased a new stake in OGE Energy in the fourth quarter worth about $44,470,000. Cohen & Steers Inc. purchased a new stake in OGE Energy in the fourth quarter worth about $43,618,000. T. Rowe Price Investment Management Inc. lifted 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 worth $254,701,000 after acquiring an additional 844,679 shares during the period. Finally, Northern Trust Corp lifted 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 worth $146,933,000 after acquiring an additional 807,690 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $500,125.06. Following the transaction, the vice president now owns 43,932 shares in the company, 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 SEC, which is available through this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total transaction of $302,841.00. Following the transaction, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

OGE Energy Stock Performance

OGE stock opened at $43.84 on Thursday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 3.06 and a beta of 0.59. The firm has a 50-day simple moving average of $44.41 and a two-hundred day simple moving average of $43.55. OGE Energy Corporation has a one year low of $34.92 and a one year high of $46.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 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 net margin of 15.48% and a return on equity of 10.58%. The company's quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, July 7th. OGE Energy's payout ratio is 69.42%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Friday, April 11th. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, Wells Fargo & Company upped their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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