Bank of America Corp DE Sells 75,330 Shares of OGE Energy Corp. (NYSE:OGE)

Bank of America Corp DE lessened its stake in shares of OGE Energy Corp. (NYSE:OGE) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 961,922 shares of the utilities provider’s stock after selling 75,330 shares during the period. Bank of America Corp DE owned approximately 0.48% of OGE Energy worth $39,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in OGE Energy during the 4th quarter valued at approximately $27,000. Bessemer Group Inc. increased its holdings in shares of OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy in the 4th quarter worth $35,000. Principal Securities Inc. increased its holdings in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 659 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of OGE Energy in the 4th quarter worth $44,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE stock opened at $43.91 on Friday. The company has a market cap of $8.84 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61. OGE Energy Corp. has a 1 year low of $34.20 and a 1 year high of $46.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The stock’s fifty day moving average price is $44.60 and its 200-day moving average price is $43.27.

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, topping analysts’ consensus estimates of $0.22 by $0.09. The firm 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 9.71% and a net margin of 14.79%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. On average, equities analysts forecast that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 7th were given a dividend of $0.4213 per share. The ex-dividend date was Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.84%. OGE Energy’s dividend payout ratio (DPR) is presently 69.42%.

Analyst Upgrades and Downgrades

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

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction on 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 now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.

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.