Wedge Capital Management L L P NC Sells 9,858 Shares of OGE Energy Corp. (NYSE:OGE)

Wedge Capital Management L L P NC decreased its position in OGE Energy Corp. (NYSE:OGE) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 285,170 shares of the utilities provider’s stock after selling 9,858 shares during the period. Wedge Capital Management L L P NC owned approximately 0.14% of OGE Energy worth $13,106,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its stake in shares of OGE Energy by 45.1% in the 3rd quarter. Barclays PLC now owns 126,230 shares of the utilities provider’s stock valued at $5,176,000 after purchasing an additional 39,263 shares during the period. Mather Group LLC. lifted its stake in OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after buying an additional 279 shares during the period. Bleakley Financial Group LLC acquired a new position in OGE Energy in the fourth quarter valued at approximately $382,000. Strategic Financial Concepts LLC bought a new position in shares of OGE Energy during the 4th quarter worth approximately $8,195,000. Finally, Advisory Resource Group acquired a new stake in shares of OGE Energy during the 4th quarter worth approximately $271,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

NYSE OGE opened at $43.80 on Friday. The company has a market cap of $8.82 billion, a P/E ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.60. The company has a fifty day simple moving average of $44.35 and a 200 day simple moving average of $43.55. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12-month low of $34.84 and a 12-month high of $46.91.

OGE Energy (NYSE:OGE) last released its quarterly earnings data 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 quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. Sell-side analysts predict that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

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

Insider Transactions at OGE Energy

In other news, 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 completion of the transaction, the vice president now directly owns 43,932 shares of the company’s stock, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the sale, the insider now directly owns 72,548 shares of the company’s stock, valued at $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

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

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.