Applied Finance Capital Management LLC Buys New Stake in OGE Energy Corporation (NYSE:OGE)

Applied Finance Capital Management LLC bought a new stake in shares of OGE Energy Corporation (NYSE:OGE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,155 shares of the utilities provider’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. Headlands Technologies LLC acquired a new position in OGE Energy during the fourth quarter valued at $27,000. Bessemer Group Inc. lifted its position in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 361 shares during the period. Alpine Bank Wealth Management acquired a new position in OGE Energy during the first quarter valued at $31,000. First Command Advisory Services Inc. acquired a new position in OGE Energy during the first quarter valued at $36,000. Finally, NBT Bank N A NY lifted its position in OGE Energy by 100.0% during the first quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 600 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

OGE Energy Trading Down 0.1%

Shares of OGE Energy stock opened at $44.90 on Friday. The firm has a 50-day simple moving average of $44.29 and a two-hundred day simple moving average of $44.09. The company has a market cap of $9.04 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. OGE Energy Corporation has a fifty-two week low of $38.01 and a fifty-two week high of $46.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. As a group, equities analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a dividend of $0.4213 per share. The ex-dividend date was Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.75%. OGE Energy’s dividend payout ratio is currently 69.42%.

Insider Transactions at OGE Energy

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

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.