State of Alaska Department of Revenue Decreases Stake in OGE Energy Corporation (NYSE:OGE)

State of Alaska Department of Revenue lowered its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.14% of OGE Energy worth $12,826,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of OGE. Headlands Technologies LLC purchased a new position in OGE Energy during the fourth quarter valued at approximately $27,000. Bessemer Group Inc. grew its stake 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 acquiring an additional 361 shares in the last quarter. Principal Securities Inc. grew its stake in OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 659 shares in the last quarter. BankPlus Trust Department purchased a new position in OGE Energy during the fourth quarter valued at approximately $44,000. Finally, Lee Danner & Bass Inc. purchased a new position in OGE Energy during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 72,548 shares of the company's stock, valued at $3,303,835.92. The trade was a 8.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the business'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 completion of the sale, 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 disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented 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 target for the company in a research note on Friday, April 11th. Wells Fargo & Company boosted their price target 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. Finally, Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Trading Up 0.2%

NYSE OGE traded up $0.08 during trading on Friday, hitting $43.96. The company had a trading volume of 1,604,773 shares, compared to its average volume of 1,103,712. The company's fifty day moving average is $44.41 and its 200-day moving average is $43.57. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. 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 one year low of $34.92 and a one year high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last announced 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 net margin of 15.48% and a return on equity of 10.58%. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. During the same period in the prior year, the firm posted $0.09 EPS. OGE Energy's revenue for the quarter was up 25.3% on a year-over-year basis. On average, sell-side analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

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

OGE Energy 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.