Massachusetts Financial Services Co. MA Buys New Stake in OGE Energy Corporation (NYSE:OGE)

Massachusetts Financial Services Co. MA acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE) in the first quarter, HoldingsChannel reports. The fund acquired 879,664 shares of the utilities provider’s stock, valued at approximately $40,429,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of OGE Energy by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock valued at $883,311,000 after purchasing an additional 203,129 shares during the period. 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 worth $254,701,000 after acquiring an additional 844,679 shares during the last quarter. Northern Trust Corp increased its stake in shares of OGE Energy by 29.3% during the 4th 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 last quarter. Geode Capital Management LLC boosted its holdings in OGE Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider’s stock worth $138,845,000 after buying an additional 15,415 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in OGE Energy by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,907 shares of the utilities provider’s stock valued at $94,913,000 after purchasing an additional 121,446 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OGE. 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 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. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Friday, May 9th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Insider Activity at OGE Energy

In related 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 sale, the vice president owned 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William H. Sultemeier sold 6,650 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider directly owned 72,548 shares in the company, valued at approximately $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. 0.55% of the stock is currently owned by corporate insiders.

OGE Energy Price Performance

NYSE:OGE opened at $44.14 on Friday. 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 Corporation has a 52-week low of $36.66 and a 52-week high of $46.91. The business’s 50-day moving average price is $44.13 and its 200 day moving average price is $43.90. The firm has a market cap of $8.89 billion, a P/E ratio of 18.24, a PEG ratio of 3.07 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, topping analysts’ consensus estimates of $0.22 by $0.09. The firm had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The company’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. As a group, sell-side analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal 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 is Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.82%. OGE Energy’s payout ratio is 69.42%.

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.