BancFirst Trust & Investment Management Has $1.68 Million Stock Position in OGE Energy Corp. (NYSE:OGE)

BancFirst Trust & Investment Management lessened its position in shares of OGE Energy Corp. (NYSE:OGE) by 41.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,010 shares of the utilities provider’s stock after selling 26,698 shares during the quarter. OGE Energy comprises about 0.8% of BancFirst Trust & Investment Management’s investment portfolio, making the stock its 12th largest position. BancFirst Trust & Investment Management’s holdings in OGE Energy were worth $1,684,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in shares of OGE Energy by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 239 shares during the period. CIBC Asset Management Inc increased its holdings in OGE Energy by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 295 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in OGE Energy by 1.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock valued at $1,161,000 after buying an additional 354 shares during the period. Bessemer Group Inc. boosted its holdings in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after buying an additional 361 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in OGE Energy by 5.9% during the first quarter. Merit Financial Group LLC now owns 6,887 shares of the utilities provider’s stock worth $317,000 after buying an additional 382 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of OGE opened at $43.79 on Tuesday. The stock has a 50 day simple moving average of $44.30 and a 200 day simple moving average of $43.54. OGE Energy Corp. has a 52-week low of $34.84 and a 52-week high of $46.91. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The firm has a market capitalization of $8.82 billion, a PE ratio of 19.91, a P/E/G ratio of 3.30 and a beta of 0.59.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results 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 firm had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Sell-side analysts predict that OGE Energy Corp. will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy’s payout ratio is presently 69.42%.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the sale, the insider now owns 72,548 shares of the company’s stock, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president now directly owns 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OGE shares. Argus raised OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, April 11th. Wells Fargo & Company upped their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research report on Friday, May 9th. Finally, Barclays raised shares of OGE Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $47.00 in a report on Thursday, June 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.80.

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.