NorthRock Partners LLC Invests $281,000 in OGE Energy Corp. (NYSE:OGE)

NorthRock Partners LLC purchased a new position in OGE Energy Corp. (NYSE:OGE) in the fourth quarter, HoldingsChannel reports. The firm purchased 6,817 shares of the utilities provider’s stock, valued at approximately $281,000.

A number of other institutional investors also recently made changes to their positions in OGE. Norges Bank acquired a new stake in shares of OGE Energy in the 4th quarter worth approximately $68,876,000. Merewether Investment Management LP acquired a new stake in shares of OGE Energy in the 4th quarter worth approximately $44,470,000. Cohen & Steers Inc. acquired a new stake in shares of OGE Energy in the 4th quarter worth approximately $43,618,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of OGE Energy by 15.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock worth $254,701,000 after acquiring an additional 844,679 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after acquiring an additional 807,690 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider William H. Sultemeier sold 6,650 shares of the business’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 transaction of $302,841.00. Following the sale, the insider now owns 72,548 shares in the company, 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 can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OGE. Wells Fargo & Company upped their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 1st. Barclays boosted their target price on shares of OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, April 11th. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.40.

OGE Energy Stock Up 1.0%

NYSE OGE opened at $44.36 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The company’s 50 day simple moving average is $44.61 and its 200 day simple moving average is $43.33. OGE Energy Corp. has a 12 month low of $34.20 and a 12 month high of $46.91. The company has a market capitalization of $8.93 billion, a P/E ratio of 20.16, a PEG ratio of 3.30 and a beta of 0.61.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The business had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm’s revenue was up 25.3% compared to the same quarter last year. Equities research analysts expect 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 will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. OGE Energy’s dividend payout ratio is currently 69.42%.

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.