Sowell Financial Services LLC Invests $305,000 in OGE Energy Corporation (NYSE:OGE)

Sowell Financial Services LLC bought a new position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,626 shares of the utilities provider's stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in OGE. Principal Securities Inc. increased its position in shares of OGE Energy by 204.7% during 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. Allworth Financial LP increased its position in shares of OGE Energy by 185.8% during the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider's stock worth $77,000 after purchasing an additional 1,180 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of OGE Energy by 5.1% during the fourth 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 in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of OGE Energy during the fourth quarter worth about $1,679,000. Finally, Ieq Capital LLC acquired a new stake in shares of OGE Energy during the fourth quarter worth about $235,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Insiders Place Their Bets

In related news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

OGE Energy Stock Performance

Shares of OGE stock opened at $43.96 on Friday. The stock has a market capitalization of $8.85 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. OGE Energy Corporation has a 52-week low of $34.92 and a 52-week high of $46.91. The stock's 50-day moving average price is $44.41 and its 200 day moving average price is $43.57. The company has a quick ratio of 0.47, a current ratio of 0.73 and a debt-to-equity ratio of 1.11.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the firm posted $0.09 EPS. The firm's quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently announced 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 yield of 3.83%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's payout ratio is 69.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Friday, April 11th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Friday, May 9th. Finally, Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Two 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, OGE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

About OGE Energy

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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