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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. Headlands Technologies LLC purchased a new stake in OGE Energy in the fourth quarter worth $27,000. Bessemer Group Inc. raised its holdings in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after purchasing an additional 361 shares in the last quarter. Principal Securities Inc. raised its holdings in OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after purchasing an additional 659 shares in the last quarter. BankPlus Trust Department bought a new position in OGE Energy in the fourth quarter worth $44,000. Finally, Lee Danner & Bass Inc. bought a new position in OGE Energy in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price target on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Finally, Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a report on Friday, April 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of OGE Energy stock traded up $0.08 during trading on Friday, hitting $43.96. 1,604,773 shares of the company's stock traded hands, compared to its average volume of 1,103,712. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.47. OGE Energy Corporation has a 1 year low of $34.92 and a 1 year high of $46.91. The stock has a market capitalization of $8.85 billion, a P/E ratio of 18.17, a PEG ratio of 3.06 and a beta of 0.59. The business has a 50-day simple moving average of $44.41 and a 200-day simple moving average of $43.57.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The company had revenue of $747.70 million for the quarter, compared to analysts' expectations of $695.59 million. During the same period last year, the firm posted $0.09 earnings per share. OGE Energy's revenue was up 25.3% compared to the same quarter last year. As a group, analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The firm 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 dividend of $0.4213 per share. The ex-dividend date is Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.83%. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Insider Activity at OGE Energy

In other OGE Energy news, 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 value of $500,125.06. Following the transaction, the vice president now directly owns 43,932 shares of the company's stock, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

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.