UMB Bank n.a. Boosts Stock Holdings in OGE Energy Corp. (NYSE:OGE)

UMB Bank n.a. boosted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 15.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,445 shares of the utilities provider’s stock after purchasing an additional 1,236 shares during the period. UMB Bank n.a.’s holdings in OGE Energy were worth $434,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in OGE Energy during the fourth quarter worth approximately $27,000. Bessemer Group Inc. raised its stake in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares during the period. Stonebridge Financial Group LLC purchased a new position in OGE Energy during the fourth quarter worth approximately $35,000. Principal Securities Inc. raised its stake in 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 purchased a new position in OGE Energy during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OGE shares. Argus raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, April 11th. Barclays raised shares of OGE Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company raised their target price 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

OGE Energy Price Performance

OGE opened at $44.01 on Wednesday. The company has a fifty day simple moving average of $44.26 and a 200 day simple moving average of $43.55. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 3.30 and a beta of 0.59. OGE Energy Corp. has a twelve month low of $34.84 and a twelve month high of $46.91. 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) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. Equities research analysts expect that OGE Energy Corp. will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed 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. This represents a $1.69 annualized dividend and a yield of 3.83%. The ex-dividend date is Monday, July 7th. OGE Energy’s dividend payout ratio is currently 69.42%.

Insiders Place Their Bets

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total transaction of $302,841.00. Following the completion of the transaction, the insider now directly owns 72,548 shares of the company’s stock, valued at $3,303,835.92. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the transaction, the vice president now directly owns 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is owned by company 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.