First Citizens Bank & Trust Co. Invests $216,000 in OGE Energy Corp. (NYSE:OGE)

First Citizens Bank & Trust Co. acquired a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,709 shares of the utilities provider’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. Headlands Technologies LLC acquired a new position in shares of OGE Energy during the 4th quarter worth $27,000. Bessemer Group Inc. boosted its holdings in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in OGE Energy during the fourth quarter worth $35,000. Principal Securities Inc. raised its holdings in OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after buying an additional 659 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in OGE Energy during the fourth quarter valued at about $44,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, the vice president now owns 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. The trade was a 20.53% 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. Also, insider William H. Sultemeier sold 6,650 shares of the business’s 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 transaction, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

OGE Energy Price Performance

Shares of OGE stock opened at $44.14 on Thursday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.30 and a beta of 0.59. OGE Energy Corp. has a 12 month low of $34.84 and a 12 month high of $46.91. 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 stock has a 50-day moving average price of $44.27 and a 200 day moving average price of $43.55.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The business had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. During the same period last year, the company earned $0.09 EPS. The firm’s revenue was up 25.3% on a year-over-year basis. Research analysts expect that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.4213 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.82%. OGE Energy’s dividend payout ratio (DPR) is currently 69.42%.

OGE Energy 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.