OGE Energy Corporation (NYSE:OGE) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in OGE Energy Corporation (NYSE:OGE) by 3.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 92,111 shares of the utilities provider’s stock after selling 3,533 shares during the quarter. Amalgamated Bank’s holdings in OGE Energy were worth $4,233,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position 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 acquiring an additional 239 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in OGE Energy by 6.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 307 shares in the last quarter. Bessemer Group Inc. boosted its stake in 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 purchasing an additional 328 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in OGE Energy by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock worth $1,161,000 after purchasing an additional 354 shares during the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of OGE Energy by 5.9% during the first quarter. Merit Financial Group LLC now owns 6,887 shares of the utilities provider’s stock worth $317,000 after buying an additional 382 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE Energy stock opened at $44.59 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.47 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average price of $44.32 and a 200 day moving average price of $43.70. OGE Energy Corporation has a 12-month low of $34.94 and a 12-month high of $46.91. The stock has a market cap of $8.98 billion, a P/E ratio of 18.43, a PEG ratio of 3.08 and a beta of 0.59.

OGE Energy (NYSE:OGE) last released 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 firm had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy’s dividend payout ratio is presently 69.42%.

Insider Activity

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the transaction, the vice president owned 43,932 shares of the company’s stock, valued at $1,935,643.92. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of the business’s 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 sale, the insider directly owned 72,548 shares in the company, valued at $3,303,835.92. This trade 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 insiders.

Analysts Set New Price Targets

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

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.