Principal Financial Group Inc. Acquires 1,594 Shares of OGE Energy Corporation (NYSE:OGE)

Principal Financial Group Inc. grew its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 0.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 462,312 shares of the utilities provider’s stock after buying an additional 1,594 shares during the quarter. Principal Financial Group Inc. owned 0.23% of OGE Energy worth $21,248,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of OGE Energy by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,350,343 shares of the utilities provider’s stock valued at $55,702,000 after purchasing an additional 10,510 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of OGE Energy in the fourth quarter valued at approximately $1,800,000. Raymond James Financial Inc. purchased a new stake in shares of OGE Energy in the fourth quarter valued at approximately $11,862,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of OGE Energy by 10.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,431 shares of the utilities provider’s stock valued at $2,039,000 after purchasing an additional 4,567 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of OGE Energy by 11.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 6,691 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 667 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Up 1.4%

Shares of NYSE:OGE opened at $44.18 on Thursday. OGE Energy Corporation has a 52-week low of $35.18 and a 52-week high of $46.91. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 3.04 and a beta of 0.59. 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 business has a 50-day moving average price of $44.22 and a 200-day moving average price of $43.78.

OGE Energy (NYSE:OGE) last announced 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. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. Equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently announced 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. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy’s dividend payout ratio (DPR) is presently 69.42%.

Insider Transactions at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $302,841.00. Following the completion of the sale, the insider owned 72,548 shares in the company, valued at approximately $3,303,835.92. The trade was 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded 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 upped their target price for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their price target 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy presently has an average rating of “Moderate Buy” and an average 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.