Miller Howard Investments Inc. NY Raises Stock Position in OGE Energy Corp. (NYSE:OGE)

Miller Howard Investments Inc. NY boosted its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 1,219.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 769,053 shares of the utilities provider's stock after acquiring an additional 710,761 shares during the quarter. Miller Howard Investments Inc. NY owned 0.38% of OGE Energy worth $26,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of OGE. Lazard Asset Management LLC bought a new position in shares of OGE Energy in the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. bought a new position in shares of OGE Energy in the 1st quarter worth approximately $32,000. Authentikos Wealth Advisory LLC bought a new position in shares of OGE Energy in the 3rd quarter worth approximately $43,000. Avior Wealth Management LLC increased its position in OGE Energy by 572.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider's stock valued at $49,000 after buying an additional 1,248 shares in the last quarter. Finally, Compass Wealth Management LLC bought a new position in OGE Energy during the 4th quarter valued at approximately $65,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now directly owns 25,926 shares of the company's stock, valued at $879,409.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

OGE Energy Stock Performance

NYSE OGE traded up $0.19 on Tuesday, hitting $34.22. 1,001,050 shares of the company traded hands, compared to its average volume of 1,586,840. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.16 and a beta of 0.73. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. The business's 50 day moving average price is $33.46 and its 200-day moving average price is $34.06. OGE Energy Corp. has a 52-week low of $31.25 and a 52-week high of $38.95.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The company had revenue of $566.70 million for the quarter, compared to the consensus estimate of $986.67 million. During the same quarter last year, the company earned $0.25 EPS. The firm's quarterly revenue was down 20.4% on a year-over-year basis. Equities analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be paid a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Friday, April 5th. OGE Energy's payout ratio is presently 80.68%.

Analyst Ratings Changes

OGE has been the subject of a number of analyst reports. TheStreet lowered OGE Energy from a "b" rating to a "c+" rating in a research report on Wednesday, February 21st. Barclays reduced their target price on OGE Energy from $35.00 to $34.00 and set an "overweight" rating for the company in a report on Thursday, March 14th. LADENBURG THALM/SH SH lowered OGE Energy from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. Finally, StockNews.com lowered OGE Energy from a "hold" rating to a "sell" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $33.40.

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.