Algert Global LLC Purchases 111,627 Shares of OGE Energy Corp. (NYSE:OGE)

Algert Global LLC lifted its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 74.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,049 shares of the utilities provider's stock after purchasing an additional 111,627 shares during the period. Algert Global LLC owned 0.13% of OGE Energy worth $10,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of OGE Energy in the fourth quarter valued at approximately $27,000. Bessemer Group Inc. boosted its holdings in OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 361 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of OGE Energy during the 4th quarter worth approximately $35,000. Principal Securities Inc. increased its holdings in shares of OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after purchasing an additional 659 shares during the period. Finally, BankPlus Trust Department acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $44,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Down 0.0 %

NYSE:OGE traded down $0.02 during trading hours on Wednesday, reaching $45.25. The company had a trading volume of 960,144 shares, compared to its average volume of 1,128,180. The business's 50-day simple moving average is $44.72 and its two-hundred day simple moving average is $43.15. OGE Energy Corp. has a twelve month low of $34.20 and a twelve month high of $46.91. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 3.30 and a beta of 0.61. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The firm had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business's revenue was up 25.3% on a year-over-year basis. On average, equities analysts expect that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 7th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.72%. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Analysts Set New Price Targets

Several analysts recently issued reports on OGE shares. Evercore ISI upgraded shares of OGE Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Tuesday, April 22nd. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research report on Friday, April 11th. Barclays lifted their target price on OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, 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 note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.40.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the transaction, the insider now owns 72,548 shares in the company, valued at $3,303,835.92. The trade was a 8.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by insiders.

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.