Voloridge Investment Management LLC Trims Position in OGE Energy Corp. (NYSE:OGE)

Voloridge Investment Management LLC cut its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 50.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,850 shares of the utilities provider's stock after selling 152,510 shares during the quarter. Voloridge Investment Management LLC owned 0.07% of OGE Energy worth $6,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of OGE. Barclays PLC grew its stake in shares of OGE Energy by 45.1% in the third quarter. Barclays PLC now owns 126,230 shares of the utilities provider's stock valued at $5,176,000 after buying an additional 39,263 shares in the last quarter. Merit Financial Group LLC grew its stake in OGE Energy by 14.2% during the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider's stock worth $268,000 after purchasing an additional 810 shares in the last quarter. KBC Group NV grew its stake in OGE Energy by 55.2% during the 4th quarter. KBC Group NV now owns 7,795 shares of the utilities provider's stock worth $322,000 after purchasing an additional 2,774 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in OGE Energy by 41.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 14,743 shares of the utilities provider's stock worth $608,000 after purchasing an additional 4,328 shares in the last quarter. Finally, Gries Financial LLC grew its stake in OGE Energy by 1.7% during the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider's stock worth $1,274,000 after purchasing an additional 514 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 sale, the insider now owns 72,548 shares in the company, valued at $3,303,835.92. This represents a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the vice president now owns 43,932 shares in the company, valued at approximately $1,935,643.92. This represents a 20.53% 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 Energy stock traded down $0.11 on Friday, hitting $44.08. The stock had a trading volume of 186,678 shares, compared to its average volume of 1,120,550. OGE Energy Corp. has a 52-week low of $34.84 and a 52-week high of $46.91. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 3.30 and a beta of 0.61. The company's 50 day moving average price is $44.50 and its 200 day moving average price is $43.49.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The business had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The business's quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. On average, research analysts anticipate that OGE Energy Corp. 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 3.82%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy's payout ratio is 69.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OGE shares. Barclays boosted their target price on OGE Energy from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company lifted their price target on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, OGE Energy has an average rating of "Moderate Buy" and an average target price of $46.40.

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.