Strategic Financial Concepts LLC Reduces Stake in OGE Energy Corporation (NYSE:OGE)

Strategic Financial Concepts LLC decreased its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 97.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,816 shares of the utilities provider's stock after selling 193,844 shares during the period. Strategic Financial Concepts LLC's holdings in OGE Energy were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in OGE Energy during the 4th quarter valued at approximately $68,876,000. Merewether Investment Management LP bought a new position in shares of OGE Energy during the fourth quarter worth $44,470,000. Cohen & Steers Inc. purchased a new position in OGE Energy during the fourth quarter valued at $43,618,000. T. Rowe Price Investment Management Inc. grew its stake in OGE Energy by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock valued at $254,701,000 after acquiring an additional 844,679 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after acquiring an additional 807,690 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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 report on Thursday, May 1st. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. 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 research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, OGE Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Trading Up 0.8%

OGE traded up $0.36 during trading on Friday, reaching $44.59. The company had a trading volume of 581,456 shares, compared to its average volume of 1,116,302. OGE Energy Corporation has a 52 week low of $34.94 and a 52 week high of $46.91. The stock has a market cap of $8.98 billion, a P/E ratio of 18.43, a PEG ratio of 3.08 and a beta of 0.59. The company has a quick ratio of 0.47, a current ratio of 0.73 and a debt-to-equity ratio of 1.11. The business has a 50 day simple moving average of $44.32 and a 200-day simple moving average of $43.70.

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

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Insiders Place Their Bets

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 72,548 shares in the company, valued at $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the business's stock in a transaction 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 transaction, the vice president owned 43,932 shares in the company, 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.

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.