Cetera Investment Advisers Boosts Holdings in OGE Energy Corp. (NYSE:OGE)

Cetera Investment Advisers raised its holdings in OGE Energy Corp. (NYSE:OGE) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,831 shares of the utilities provider’s stock after purchasing an additional 6,135 shares during the quarter. Cetera Investment Advisers’ holdings in OGE Energy were worth $2,592,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OGE. Headlands Technologies LLC purchased a new stake in OGE Energy in the fourth quarter valued at $27,000. Bessemer Group Inc. boosted its holdings in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 361 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in OGE Energy in the fourth quarter valued at $35,000. Principal Securities Inc. boosted its holdings in OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 659 shares during the last quarter. Finally, BankPlus Trust Department purchased a new stake in OGE Energy in the fourth quarter valued at $44,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on OGE shares. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a research report on Friday, May 9th. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays upped their price objective on shares of OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Finally, Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.40.

OGE Energy Stock Up 1.0%

OGE opened at $44.36 on Friday. OGE Energy Corp. has a twelve month low of $34.20 and a twelve month high of $46.91. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average price of $44.61 and a 200 day moving average price of $43.33. The company has a market cap of $8.93 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The firm had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. Sell-side analysts expect that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared 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 3.80%. OGE Energy’s dividend payout ratio (DPR) is presently 69.42%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the sale, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by insiders.

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.