Brighton Jones LLC bought a new position in OGE Energy Corporation (NYSE:OGE – Free Report) in the 1st quarter, Holdings Channel.com reports. The firm bought 4,709 shares of the utilities provider’s stock, valued at approximately $216,000.
Several other institutional investors and hedge funds also recently modified their holdings of OGE. Van ECK Associates Corp boosted its position in shares of OGE Energy by 7.9% in the fourth quarter. Van ECK Associates Corp now owns 62,542 shares of the utilities provider’s stock worth $2,580,000 after buying an additional 4,584 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of OGE Energy in the fourth quarter worth about $1,496,000. Rhumbline Advisers boosted its position in shares of OGE Energy by 0.8% in the fourth quarter. Rhumbline Advisers now owns 586,804 shares of the utilities provider’s stock worth $24,206,000 after buying an additional 4,428 shares during the period. Principal Securities Inc. boosted its position in shares of OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after buying an additional 659 shares during the period. Finally, Allworth Financial LP boosted its position in shares of OGE Energy by 185.8% in the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock worth $77,000 after buying an additional 1,180 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.
Insider Transactions at OGE Energy
In related news, VP Donnie O. Jones sold 11,351 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, the vice president now directly owns 43,932 shares in the company, valued at $1,935,643.92. This trade represents a 20.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the sale, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
OGE Energy Stock Down 0.1%
OGE Energy (NYSE:OGE – Get Free Report) last announced 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. The business had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Equities research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.
OGE Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Monday, July 7th. OGE Energy’s payout ratio is 69.42%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Barclays raised OGE Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wells Fargo & Company increased their target price on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 1st. Argus raised OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, April 11th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, OGE Energy has an average rating of “Moderate Buy” and a consensus price target of $46.80.
About OGE Energy
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.
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