OGE Energy Corp. (NYSE:OGE) Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,832 shares of the utilities provider’s stock after buying an additional 6,404 shares during the quarter. Amalgamated Bank owned 0.07% of OGE Energy worth $4,556,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. ClearBridge Investments Ltd grew its position in OGE Energy by 3.9% in the third quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock worth $222,806,000 after buying an additional 252,456 shares during the last quarter. Boston Partners acquired a new position in OGE Energy in the fourth quarter worth approximately $128,381,000. Thompson Siegel & Walmsley LLC grew its position in OGE Energy by 3.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 3,177,388 shares of the utilities provider’s stock worth $110,986,000 after purchasing an additional 93,916 shares in the last quarter. Franklin Resources Inc. grew its position in OGE Energy by 3.3% during the 4th quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock worth $65,435,000 after purchasing an additional 59,329 shares in the last quarter. Finally, Invesco Ltd. grew its position in OGE Energy by 13.4% during the 3rd quarter. Invesco Ltd. now owns 1,842,045 shares of the utilities provider’s stock worth $61,395,000 after purchasing an additional 217,866 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Down 2.6 %

Shares of NYSE OGE traded down $0.95 during mid-day trading on Thursday, reaching $35.62. The company had a trading volume of 1,202,587 shares, compared to its average volume of 1,540,342. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $37.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51. The stock has a market capitalization of $7.14 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. The stock’s 50 day moving average is $34.62 and its 200-day moving average is $34.32.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). The company had revenue of $596.80 million during the quarter, compared to analyst estimates of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be issued a $0.418 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s dividend payout ratio is presently 84.77%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OGE has been the topic of several research analyst reports. Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Finally, Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.40.

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.