Bessemer Group Inc. Buys 328 Shares of OGE Energy Corporation (NYSE:OGE)

Bessemer Group Inc. grew its stake in shares of OGE Energy Corporation (NYSE:OGE) by 45.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,043 shares of the utilities provider’s stock after acquiring an additional 328 shares during the period. Bessemer Group Inc.’s holdings in OGE Energy were worth $48,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in OGE Energy in the 4th quarter worth about $68,876,000. Merewether Investment Management LP purchased a new position in OGE Energy in the 4th quarter worth about $44,470,000. Cohen & Steers Inc. purchased a new position in OGE Energy in the 4th quarter worth about $43,618,000. T. Rowe Price Investment Management Inc. raised its position in 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 buying an additional 844,679 shares during the last quarter. Finally, Northern Trust Corp raised its position in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after buying an additional 807,690 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

Insider Transactions at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the transaction, the insider directly owned 72,548 shares of the company’s stock, valued at $3,303,835.92. The trade was a 8.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

OGE Energy Trading Up 0.8%

OGE Energy stock opened at $44.59 on Friday. The business has a 50-day simple moving average of $44.31 and a two-hundred day simple moving average of $43.72. The company has a market cap of $8.98 billion, a P/E ratio of 18.43, a P/E/G ratio of 3.10 and a beta of 0.59. OGE Energy Corporation has a 52-week low of $34.94 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 released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The business had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. During the same period in the previous year, the company posted $0.09 EPS. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. Analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 3.78%. OGE Energy’s payout ratio is currently 69.42%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OGE. Barclays raised 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 research report on Thursday, June 5th. Argus raised OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Friday, April 11th. Wells Fargo & Company boosted their target price on 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, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.80.

OGE Energy 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.