William H. Sultemeier Sells 6,650 Shares of OGE Energy Corp. (NYSE:OGE) Stock

OGE Energy Corp. (NYSE:OGE) 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 directly owns 72,548 shares of the company’s stock, valued at $3,303,835.92. The trade was a 8.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

OGE Energy Stock Down 0.0 %

OGE Energy stock opened at $45.25 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The firm has a market cap of $9.11 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.30 and a beta of 0.61. The business has a fifty day moving average of $44.72 and a two-hundred day moving average of $43.15. OGE Energy Corp. has a twelve month low of $34.20 and a twelve month high of $46.91.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. On average, analysts forecast that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.72%. The ex-dividend date was Monday, April 7th. OGE Energy’s dividend payout ratio is currently 69.42%.

Hedge Funds Weigh In On OGE Energy

Several hedge funds have recently modified their holdings of the stock. Meeder Advisory Services Inc. lifted its stake in shares of OGE Energy by 17.7% during the first quarter. Meeder Advisory Services Inc. now owns 8,243 shares of the utilities provider’s stock worth $379,000 after buying an additional 1,239 shares during the period. Foundations Investment Advisors LLC raised its stake in OGE Energy by 4.0% in the 1st quarter. Foundations Investment Advisors LLC now owns 15,336 shares of the utilities provider’s stock worth $705,000 after acquiring an additional 593 shares during the last quarter. Prosperity Consulting Group LLC acquired a new stake in OGE Energy during the 1st quarter worth about $224,000. LPL Financial LLC grew its stake in OGE Energy by 14.7% during the 1st quarter. LPL Financial LLC now owns 231,189 shares of the utilities provider’s stock valued at $10,625,000 after purchasing an additional 29,650 shares during the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of OGE Energy by 34.0% in the first quarter. Inspire Advisors LLC now owns 62,326 shares of the utilities provider’s stock valued at $2,864,000 after purchasing an additional 15,809 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Ratings Changes

OGE has been the subject of a number of analyst reports. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 1st. Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Friday, April 11th. Barclays raised their price objective on shares of OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.40.

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.