State of Alaska Department of Revenue Has $12.83 Million Stock Position in OGE Energy Corporation (NYSE:OGE)

State of Alaska Department of Revenue reduced its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,100 shares of the utilities provider's stock after selling 21,380 shares during the period. State of Alaska Department of Revenue owned about 0.14% of OGE Energy worth $12,826,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in OGE. Quadrant Capital Group LLC grew its position in OGE Energy by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock valued at $199,000 after purchasing an additional 239 shares in the last quarter. CIBC Asset Management Inc grew its position in OGE Energy by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after purchasing an additional 295 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in OGE Energy by 1.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider's stock valued at $1,161,000 after purchasing an additional 354 shares in the last quarter. Bessemer Group Inc. grew its position in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 361 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in OGE Energy by 5.9% during the first quarter. Merit Financial Group LLC now owns 6,887 shares of the utilities provider's stock valued at $317,000 after purchasing an additional 382 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Up 0.2%

NYSE OGE traded up $0.08 during trading on Friday, reaching $43.96. The company's stock had a trading volume of 1,604,773 shares, compared to its average volume of 1,107,366. The business has a 50-day moving average price of $44.41 and a 200-day moving average price of $43.57. The company has a current ratio of 0.73, a quick ratio of 0.47 and a debt-to-equity ratio of 1.11. 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 PE ratio of 18.17, a PEG ratio of 3.06 and a beta of 0.59.

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 for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The business had revenue of $747.70 million during the quarter, compared to analysts' expectations of $695.59 million. During the same period in the previous year, the company earned $0.09 earnings per share. OGE Energy's revenue for the quarter was up 25.3% on a year-over-year basis. On average, research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, July 7th. OGE Energy's payout ratio is 69.42%.

Insider Transactions at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction on Tuesday, May 6th. The shares were 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 owns 72,548 shares in the company, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the company'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 sale, the vice president now directly owns 43,932 shares in the company, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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