First Trust Advisors LP Decreases Stake in OGE Energy Corporation $OGE

First Trust Advisors LP trimmed its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 21.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,002,705 shares of the utilities provider’s stock after selling 557,781 shares during the period. First Trust Advisors LP’s holdings in OGE Energy were worth $96,050,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC grew its holdings in shares of OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 315 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 739 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after buying an additional 255 shares during the period. State of Wyoming bought a new position in shares of OGE Energy in the second quarter worth $34,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 674 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE Energy stock opened at $49.92 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.32. The stock has a 50-day moving average price of $48.18 and a two-hundred day moving average price of $47.09. The company has a market capitalization of $10.30 billion, a PE ratio of 22.29, a P/E/G ratio of 3.67 and a beta of 0.53.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $0.425 per share. The ex-dividend date is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.4%. OGE Energy’s dividend payout ratio is currently 75.89%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OGE. LADENBURG THALM/SH SH increased their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Morgan Stanley set a $51.00 price target on OGE Energy in a report on Wednesday. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Barclays increased their target price on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.80.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider directly owned 74,497 shares in the company, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.