Point72 Asset Management L.P. Buys New Shares in OGE Energy Corp. (NYSE:OGE)

Point72 Asset Management L.P. bought a new position in OGE Energy Corp. (NYSE:OGE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 708,981 shares of the utilities provider's stock, valued at approximately $29,245,000. Point72 Asset Management L.P. owned about 0.35% of OGE Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OGE. Barclays PLC boosted its stake in shares of OGE Energy by 45.1% in the 3rd quarter. Barclays PLC now owns 126,230 shares of the utilities provider's stock worth $5,176,000 after buying an additional 39,263 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of OGE Energy in the 4th quarter worth approximately $252,000. Merit Financial Group LLC boosted its stake in shares of OGE Energy by 14.2% in the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider's stock worth $268,000 after buying an additional 810 shares during the last quarter. M.E. Allison & CO. Inc. purchased a new position in shares of OGE Energy in the 4th quarter worth approximately $215,000. Finally, UMB Bank n.a. boosted its stake in shares of OGE Energy by 6.7% in the 4th quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock worth $339,000 after buying an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a report on Friday, April 11th. Wells Fargo & Company lifted their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Barclays lifted their price target on shares of OGE Energy from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.40.

OGE Energy Stock Performance

OGE stock traded up $0.29 during midday trading on Tuesday, reaching $44.93. 932,932 shares of the company's stock traded hands, compared to its average volume of 1,131,014. The company has a 50-day moving average price of $44.61 and a two-hundred day moving average price of $43.39. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. OGE Energy Corp. has a 52 week low of $34.20 and a 52 week high of $46.91. The firm has a market capitalization of $9.05 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $747.70 million for the quarter, compared to analysts' expectations of $695.59 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.75%. OGE Energy's payout ratio is 69.42%.

Insider Buying and Selling at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now owns 72,548 shares of the company's stock, valued at $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company's stock.

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.