10,301 Shares in OGE Energy Corporation (NYSE:OGE) Acquired by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC purchased a new position in OGE Energy Corporation (NYSE:OGE) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,301 shares of the utilities provider’s stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OGE. Van ECK Associates Corp increased its holdings in OGE Energy by 7.9% in the 4th quarter. Van ECK Associates Corp now owns 62,542 shares of the utilities provider’s stock worth $2,580,000 after buying an additional 4,584 shares during the period. Asset Management One Co. Ltd. acquired a new position in OGE Energy in the 4th quarter worth approximately $1,496,000. Rhumbline Advisers increased its holdings in OGE Energy by 0.8% in the 4th quarter. Rhumbline Advisers now owns 586,804 shares of the utilities provider’s stock worth $24,206,000 after buying an additional 4,428 shares during the period. Principal Securities Inc. increased its holdings in 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 buying an additional 659 shares during the period. Finally, Allworth Financial LP increased its holdings in OGE Energy by 185.8% in the 4th quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock worth $77,000 after buying an additional 1,180 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity

In other news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the transaction, the vice president now owns 43,932 shares in the company, valued at $1,935,643.92. This trade represents a 20.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now owns 72,548 shares in the company, 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on OGE shares. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $47.00 in a report 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 on the stock in a report on Friday, April 11th. Wells Fargo & Company raised their price objective 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. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $43.84 on Thursday. The company’s fifty day moving average price is $44.41 and its 200 day moving average price is $43.55. OGE Energy Corporation has a 1 year low of $34.92 and a 1 year high of $46.91. The company has a market capitalization of $8.83 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73.

OGE Energy (NYSE:OGE) last announced 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. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The firm had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

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. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.84%. OGE Energy’s dividend payout ratio (DPR) is 69.42%.

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.