OGE Energy Corp. (NYSE:OGE) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 27.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,415 shares of the utilities provider's stock after selling 32,957 shares during the quarter. Alaska Permanent Fund Corp's holdings in OGE Energy were worth $3,088,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Authentikos Wealth Advisory LLC purchased a new stake in shares of OGE Energy during the third quarter worth approximately $43,000. Avior Wealth Management LLC raised its stake in shares of OGE Energy by 572.5% during the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider's stock worth $49,000 after purchasing an additional 1,248 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of OGE Energy during the fourth quarter worth approximately $66,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of OGE Energy during the third quarter worth approximately $105,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of OGE Energy during the third quarter worth approximately $134,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Price Performance

Shares of OGE stock traded up $0.40 during mid-day trading on Wednesday, reaching $34.32. The stock had a trading volume of 2,217,831 shares, compared to its average volume of 1,579,609. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $38.04. The company has a market cap of $6.88 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 3.19 and a beta of 0.73. The business has a 50-day simple moving average of $33.56 and a 200 day simple moving average of $34.07. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The business had revenue of $566.70 million during the quarter, compared to analysts' expectations of $986.67 million. During the same quarter last year, the business posted $0.25 earnings per share. The business's revenue for the quarter was down 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Cuts Dividend

The business also recently disclosed 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 dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, April 5th. OGE Energy's payout ratio is currently 80.68%.

Analyst Ratings Changes

Several research firms have issued reports on OGE. StockNews.com upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Tuesday. TheStreet cut OGE Energy from a "b" rating to a "c+" rating in a research report on Wednesday, February 21st. LADENBURG THALM/SH SH cut OGE Energy from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, Barclays cut OGE Energy from an "overweight" rating to an "equal weight" rating and set a $34.00 price objective for the company. in a research report on Monday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $33.40.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction 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 owns 25,926 shares of the company's stock, valued at $879,409.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

About OGE Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.