Insider Selling: OGE Energy Corporation (OGE) Insider Sells 4,670 Shares of Stock
OGE Energy Corporation (NYSE:OGE) insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the sale, the insider now owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
OGE Energy Corporation (NYSE OGE) traded up 0.06% during trading on Tuesday, hitting $36.24. The company had a trading volume of 1,148,617 shares. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.41. The stock has a 50-day moving average of $35.23 and a 200 day moving average of $35.03. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 20.83 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. Equities analysts forecast that OGE Energy Corporation will post $1.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 10th were paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Thursday, July 6th. OGE Energy Corporation’s dividend payout ratio (DPR) is currently 63.35%.
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A number of analysts have commented on OGE shares. Goldman Sachs Group, Inc. (The) started coverage on OGE Energy Corporation in a research report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price objective for the company. BidaskClub upgraded OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC restated a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research report on Monday, May 15th. Finally, Evercore ISI initiated coverage on OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. OGE Energy Corporation has an average rating of “Hold” and a consensus target price of $34.83.
Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of OGE Energy Corporation by 3,734.0% in the first quarter. BlackRock Inc. now owns 21,620,533 shares of the utilities provider’s stock valued at $756,286,000 after buying an additional 21,056,622 shares during the period. Vanguard Group Inc. boosted its stake in shares of OGE Energy Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,531,492 shares of the utilities provider’s stock valued at $613,251,000 after buying an additional 902,185 shares during the period. State Street Corp boosted its stake in shares of OGE Energy Corporation by 8.6% in the first quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock valued at $262,117,000 after buying an additional 593,719 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of OGE Energy Corporation by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 2,828,310 shares of the utilities provider’s stock valued at $98,934,000 after buying an additional 196,463 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of OGE Energy Corporation by 1.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,946,540 shares of the utilities provider’s stock valued at $68,090,000 after buying an additional 27,796 shares during the period. Institutional investors and hedge funds own 61.79% of the company’s stock.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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