OGE Energy Corporation (NYSE:OGE) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. decreased its stake in OGE Energy Corporation by 0.8%, owning approximately 10.55% of the company after selling 171,868 shares during the 1st quarter.
• OGE Energy recently reported quarterly earnings, missing the consensus estimate with $0.53 earnings per share, despite an 11.9% increase in revenue year-over-year.
• Several analysts recently changed their ratings on OGE Energy, with one downgrade to "sell" and two upgrades to "buy," leading to an average rating of "hold" and a consensus target price of $46.80.

Vanguard Group Inc. reduced its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,241,720 shares of the utilities provider's stock after selling 171,868 shares during the period. Vanguard Group Inc. owned 10.55% of OGE Energy worth $976,269,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OGE. Alpine Bank Wealth Management purchased a new stake in shares of OGE Energy in the first quarter valued at approximately $31,000. Bessemer Group Inc. lifted 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 valued at $30,000 after acquiring an additional 361 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in OGE Energy in the first quarter valued at approximately $36,000. Clearstead Trust LLC acquired a new position in OGE Energy in the first quarter valued at approximately $42,000. Finally, NBT Bank N A NY lifted its holdings in OGE Energy by 100.0% in the first quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 600 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of NYSE OGE traded down $0.46 during midday trading on Friday, reaching $45.21. 634,018 shares of the company were exchanged, compared to its average volume of 1,161,807. The stock has a market cap of $9.11 billion, a P/E ratio of 18.53, a PEG ratio of 3.18 and a beta of 0.57. The stock has a fifty day simple moving average of $44.60 and a 200 day simple moving average of $44.41. OGE Energy Corporation has a 1 year low of $38.90 and a 1 year high of $46.91. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). The business had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. On average, research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred on 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 transaction, the vice president directly owned 43,932 shares in the company, valued at $1,935,643.92. The trade was a 20.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on OGE shares. Wall Street Zen lowered OGE Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Finally, Wells Fargo & Company raised their price objective on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.80.

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.