OGE Energy Corporation $OGE Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its position in shares of OGE Energy Corporation (NYSE:OGE) by 63.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 147,019 shares of the utilities provider’s stock after selling 251,275 shares during the period. Assetmark Inc.’s holdings in OGE Energy were worth $7,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of OGE Energy during the 4th quarter worth approximately $119,028,000. Morgan Stanley boosted its position in OGE Energy by 103.2% during the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock worth $197,625,000 after acquiring an additional 2,350,574 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in shares of OGE Energy in the fourth quarter valued at approximately $68,460,000. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of OGE Energy by 85.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider’s stock worth $94,605,000 after acquiring an additional 1,022,863 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in OGE Energy during the fourth quarter worth about $33,929,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider directly owned 74,497 shares in the company, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OGE shares. Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. LADENBURG THALM/SH SH boosted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Barclays raised their target price on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Morgan Stanley began coverage on OGE Energy in a report on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price target for the company. Finally, Wall Street Zen cut shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $49.30.

OGE Energy Price Performance

OGE Energy stock opened at $48.27 on Wednesday. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.26. The stock has a market capitalization of $9.96 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. The business has a 50 day simple moving average of $48.03 and a 200-day simple moving average of $46.98.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. During the same period in the previous year, the business posted $0.31 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post 2.43 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, July 6th. OGE Energy’s dividend payout ratio (DPR) is currently 75.89%.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.