OGE Energy Corp. (NYSE:OGE) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in OGE Energy Corp. (NYSE:OGE) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,428 shares of the utilities provider’s stock after selling 6,679 shares during the period. Amalgamated Bank owned approximately 0.06% of OGE Energy worth $4,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Authentikos Wealth Advisory LLC purchased a new position in shares of OGE Energy during the third quarter valued at approximately $43,000. Headlands Technologies LLC boosted its holdings in shares of OGE Energy by 441.9% during the fourth quarter. Headlands Technologies LLC now owns 1,436 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 1,171 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of OGE Energy in the fourth quarter valued at $66,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in OGE Energy in the third quarter valued at $105,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in OGE Energy in the third quarter valued at $134,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $35.97 on Wednesday. The company has a market cap of $7.21 billion, a P/E ratio of 18.26, a PEG ratio of 3.30 and a beta of 0.72. OGE Energy Corp. has a one year low of $31.25 and a one year high of $38.04. The business’s 50-day simple moving average is $33.92 and its 200 day simple moving average is $34.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. During the same period in the prior year, the business earned $0.19 earnings per share. OGE Energy’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 8th were paid a dividend of $0.418 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.67 annualized dividend and a yield of 4.65%. OGE Energy’s payout ratio is 84.77%.

Analysts Set New Price Targets

Several research firms have commented on OGE. TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Barclays downgraded shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research note on Monday, April 22nd. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.40.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

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.