OGE Energy Corp. (NYSE:OGE) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its position in shares of OGE Energy Corp. (NYSE:OGE) by 74.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 312,948 shares of the utilities provider’s stock after selling 890,890 shares during the period. Jupiter Asset Management Ltd. owned about 0.16% of OGE Energy worth $10,734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its position in shares of OGE Energy by 10.0% during the 1st quarter. Blair William & Co. IL now owns 22,581 shares of the utilities provider’s stock worth $775,000 after buying an additional 2,052 shares during the last quarter. Midwest Professional Planners LTD. lifted its position in shares of OGE Energy by 22.6% during the 1st quarter. Midwest Professional Planners LTD. now owns 36,629 shares of the utilities provider’s stock worth $1,256,000 after buying an additional 6,745 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of OGE Energy during the 1st quarter worth approximately $166,000. Entropy Technologies LP purchased a new stake in shares of OGE Energy during the 1st quarter worth approximately $1,924,000. Finally, ProShare Advisors LLC lifted its position in shares of OGE Energy by 5.8% during the 1st quarter. ProShare Advisors LLC now owns 924,246 shares of the utilities provider’s stock worth $31,702,000 after buying an additional 50,390 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analysts Set New Price Targets

OGE has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 18th. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and an average target price of $33.60.

OGE Energy Stock Performance

OGE stock traded up $0.02 on Friday, hitting $37.04. The company’s stock had a trading volume of 929,958 shares, compared to its average volume of 1,166,539. The firm has a 50 day moving average of $35.88 and a two-hundred day moving average of $34.53. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $37.74. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 3.48 and a beta of 0.74. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). The firm had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Equities analysts predict that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be given a dividend of $0.418 per share. The ex-dividend date is Monday, July 8th. This represents a $1.67 dividend on an annualized basis and a yield of 4.51%. OGE Energy’s payout ratio is currently 84.77%.

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.