Insider Selling: OGE Energy Corp. (NYSE:OGE) VP Sells 5,008 Shares of Stock

OGE Energy Corp. (NYSE:OGE) VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OGE Energy Stock Down 2.7 %

Shares of OGE stock traded down $1.15 during mid-day trading on Thursday, reaching $41.80. 1,519,910 shares of the company’s stock traded hands, compared to its average volume of 1,301,983. OGE Energy Corp. has a 12 month low of $32.06 and a 12 month high of $44.09. The company has a market cap of $8.40 billion, a P/E ratio of 22.11, a P/E/G ratio of 3.89 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $40.74 and its 200-day moving average price is $38.29.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a $0.4213 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.03%. OGE Energy’s payout ratio is 87.05%.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ClearBridge Investments Ltd increased its holdings in OGE Energy by 2.7% in the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after acquiring an additional 150,797 shares in the last quarter. Boston Partners boosted its position in shares of OGE Energy by 3.8% during the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after acquiring an additional 139,872 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after acquiring an additional 531,730 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in OGE Energy by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock worth $54,960,000 after buying an additional 4,761 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in OGE Energy by 25.2% in the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after buying an additional 265,115 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on OGE shares. Barclays lifted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.40.

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.