NBT Bank N A NY Grows Holdings in OGE Energy Corporation (NYSE:OGE)

NBT Bank N A NY grew its stake in OGE Energy Corporation (NYSE:OGE) by 100.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,200 shares of the utilities provider’s stock after acquiring an additional 600 shares during the period. NBT Bank N A NY’s holdings in OGE Energy were worth $55,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of OGE Energy in the fourth quarter valued at $68,876,000. Merewether Investment Management LP purchased a new stake in shares of OGE Energy in the 4th quarter valued at $44,470,000. Cohen & Steers Inc. purchased a new stake in shares of OGE Energy in the 4th quarter valued at $43,618,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of OGE Energy by 15.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock valued at $254,701,000 after buying an additional 844,679 shares during the period. Finally, Northern Trust Corp increased its stake in OGE Energy by 29.3% during the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after purchasing an additional 807,690 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Down 0.1%

OGE stock opened at $43.84 on Thursday. OGE Energy Corporation has a fifty-two week low of $34.92 and a fifty-two week high of $46.91. The company’s 50 day moving average price is $44.41 and its 200 day moving average price is $43.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 3.06 and a beta of 0.59.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. On average, equities research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.84%. OGE Energy’s payout ratio is currently 69.42%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, VP Donnie O. Jones sold 11,351 shares of the 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 transaction, the vice president now owns 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 SEC, which can be accessed through this link. 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 transaction of $302,841.00. Following the completion of the transaction, the insider now owns 72,548 shares in the company, valued at $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.55% 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.