KBC Group NV Has $408,000 Position in OGE Energy Corporation (NYSE:OGE)

KBC Group NV grew its holdings in OGE Energy Corporation (NYSE:OGE) by 13.8% during the 1st quarter, HoldingsChannel reports. The firm owned 8,871 shares of the utilities provider’s stock after acquiring an additional 1,076 shares during the quarter. KBC Group NV’s holdings in OGE Energy were worth $408,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Diversified Trust Co acquired a new stake in shares of OGE Energy in the first quarter valued at about $459,000. Tyche Wealth Partners LLC lifted its stake in shares of OGE Energy by 21.5% in the first quarter. Tyche Wealth Partners LLC now owns 7,532 shares of the utilities provider’s stock valued at $346,000 after buying an additional 1,332 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of OGE Energy in the first quarter valued at about $31,000. Bessemer Group Inc. lifted its stake in shares of OGE Energy by 45.9% in the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock valued at $48,000 after buying an additional 328 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of OGE Energy by 1.9% in the first quarter. Oppenheimer & Co. Inc. now owns 27,846 shares of the utilities provider’s stock valued at $1,280,000 after buying an additional 522 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Up 0.8%

Shares of OGE opened at $44.59 on Friday. OGE Energy Corporation has a 12 month low of $34.94 and a 12 month high of $46.91. The company has a 50-day moving average price of $44.31 and a two-hundred day moving average price of $43.72. The company has a quick ratio of 0.47, a current ratio of 0.73 and a debt-to-equity ratio of 1.11. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 3.10 and a beta of 0.59.

OGE Energy (NYSE:OGE) last posted its 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 net margin of 15.48% and a return on equity of 10.58%. The company had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $695.59 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. OGE Energy’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.4213 dividend. 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 (DPR) is currently 69.42%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William H. Sultemeier sold 6,650 shares of OGE Energy 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 transaction, the insider owned 72,548 shares of the company’s stock, valued at $3,303,835.92. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

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.