ClearBridge Investments Ltd Reduces Holdings in OGE Energy Corp. (NYSE:OGE)

ClearBridge Investments Ltd lowered its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,537,741 shares of the utilities provider's stock after selling 147,120 shares during the period. OGE Energy comprises about 6.4% of ClearBridge Investments Ltd's portfolio, making the stock its 6th largest holding. ClearBridge Investments Ltd owned 3.26% of OGE Energy worth $228,363,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of OGE Energy by 4.3% in the 3rd quarter. Fifth Third Bancorp now owns 9,757 shares of the utilities provider's stock valued at $325,000 after purchasing an additional 405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of OGE Energy by 3.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,768 shares of the utilities provider's stock valued at $411,000 after purchasing an additional 435 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of OGE Energy by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 90,606 shares of the utilities provider's stock valued at $3,020,000 after purchasing an additional 461 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of OGE Energy by 7.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider's stock valued at $265,000 after purchasing an additional 544 shares in the last quarter. Finally, Retirement Investment Advisors Inc. increased its stake in OGE Energy by 2.1% during the 3rd quarter. Retirement Investment Advisors Inc. now owns 26,988 shares of the utilities provider's stock worth $900,000 after buying an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of OGE Energy stock traded up $0.02 on Monday, hitting $36.98. 964,193 shares of the company were exchanged, compared to its average volume of 1,558,171. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 3.47 and a beta of 0.72. The company has a 50-day moving average price of $34.46 and a 200 day moving average price of $34.29. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $37.23. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). The company had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be issued a $0.418 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy's dividend payout ratio is presently 84.77%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the company'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 value of $142,023.04. Following the transaction, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on OGE. Barclays lowered OGE Energy from an "overweight" rating to an "equal weight" rating and set a $34.00 price objective for the company. in a research note on Monday, April 22nd. StockNews.com upgraded OGE Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, April 23rd. Finally, TheStreet lowered OGE Energy from a "b" rating to a "c+" rating in a research note on Wednesday, February 21st. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OGE Energy currently has a consensus rating of "Hold" and an average target price 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.