Wealth Enhancement Advisory Services LLC Raises Stake in OGE Energy Corp. (NYSE:OGE)

Wealth Enhancement Advisory Services LLC grew its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 72.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,879 shares of the utilities provider's stock after buying an additional 10,901 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in OGE Energy were worth $1,068,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of OGE Energy by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock worth $199,000 after purchasing an additional 239 shares during the period. CIBC Asset Management Inc boosted its position in shares of OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after purchasing an additional 295 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of OGE Energy by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider's stock worth $1,161,000 after purchasing an additional 354 shares during the period. Bessemer Group Inc. boosted its position in shares of OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after purchasing an additional 361 shares during the period. Finally, Commerce Bank boosted its position in shares of OGE Energy by 1.5% during the 4th quarter. Commerce Bank now owns 30,608 shares of the utilities provider's stock worth $1,263,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Activity

In related news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total transaction of $302,841.00. Following the sale, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction 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 sale, the vice president now owns 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

OGE Energy Stock Up 0.3%

Shares of OGE traded up $0.14 during midday trading on Wednesday, reaching $44.14. The stock had a trading volume of 802,474 shares, compared to its average volume of 1,123,562. OGE Energy Corp. has a 1-year low of $34.84 and a 1-year high of $46.91. The company's fifty day simple moving average is $44.27 and its two-hundred day simple moving average is $43.55. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.30 and a beta of 0.59. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The business had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. During the same period last year, the business earned $0.09 EPS. The company's revenue was up 25.3% on a year-over-year basis. Equities research analysts expect that OGE Energy Corp. will post 2.27 earnings per share for the current 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 issued a $0.4213 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy's payout ratio is 69.42%.

Analyst Ratings Changes

Several brokerages have commented on OGE. Wells Fargo & Company raised their price target 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. 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 report on Friday, April 11th. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.80.

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.