Renaissance Technologies LLC Lowers Position in OGE Energy Corp. (NYSE:OGE)

Renaissance Technologies LLC lowered its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 49.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,172 shares of the utilities provider's stock after selling 15,728 shares during the period. Renaissance Technologies LLC's holdings in OGE Energy were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in OGE Energy by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock worth $199,000 after acquiring an additional 239 shares during the period. Mather Group LLC. increased its holdings in shares of OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 279 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after purchasing an additional 295 shares during the period. Gries Financial LLC boosted its holdings in OGE Energy by 1.7% during the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider's stock worth $1,274,000 after buying an additional 514 shares in the last quarter. Finally, UMB Bank n.a. grew its position in OGE Energy by 6.7% during the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock valued at $339,000 after buying an additional 515 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

Analysts Set New Price Targets

OGE has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Friday, April 11th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Tuesday, April 22nd. Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Barclays increased their price objective on shares of OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.40.

OGE Energy Price Performance

OGE traded up $0.27 on Wednesday, hitting $45.54. 286,805 shares of the company's stock were exchanged, compared to its average volume of 1,128,975. OGE Energy Corp. has a fifty-two week low of $34.20 and a fifty-two week high of $46.91. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 3.30 and a beta of 0.61. The firm has a 50-day moving average price of $44.74 and a 200-day moving average price of $43.14. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping 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 firm had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. During the same period in the previous year, the business posted $0.09 earnings per share. OGE Energy's quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities analysts anticipate 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. Shareholders of record on Monday, April 7th were paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Monday, April 7th. OGE Energy's dividend payout ratio (DPR) is currently 69.42%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. The trade was a 8.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.55% of the stock is owned by company insiders.

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.