Tyche Wealth Partners LLC Buys 1,332 Shares of OGE Energy Corporation (NYSE:OGE)

Tyche Wealth Partners LLC raised its stake in shares of OGE Energy Corporation (NYSE:OGE) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,532 shares of the utilities provider’s stock after purchasing an additional 1,332 shares during the period. Tyche Wealth Partners LLC’s holdings in OGE Energy were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Quadrant Capital Group LLC boosted its holdings in shares of OGE Energy by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 239 shares during the period. CIBC Asset Management Inc raised its position in OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 295 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of OGE Energy by 6.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider’s stock worth $241,000 after buying an additional 307 shares during the period. Bessemer Group Inc. grew its position in shares of OGE Energy by 45.9% during the 1st quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock worth $48,000 after buying an additional 328 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of OGE Energy by 1.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock valued at $1,161,000 after buying an additional 354 shares during the period. 71.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on OGE shares. 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 report on Friday, April 11th. Wells Fargo & Company lifted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a 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. Finally, Barclays raised OGE Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Two research 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.80.

OGE Energy Trading Down 2.0%

Shares of NYSE:OGE opened at $43.82 on Thursday. The business has a 50-day moving average price of $44.40 and a 200-day moving average price of $43.60. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.12 and a beta of 0.59. OGE Energy Corporation has a 52-week low of $34.92 and a 52-week high of $46.91. The company has a quick ratio of 0.47, a current ratio of 0.73 and a debt-to-equity ratio of 1.11.

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 analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. OGE Energy’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. Equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. OGE Energy’s dividend payout ratio is presently 69.42%.

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 directly owns 72,548 shares in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. 0.55% of the stock is currently 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.