Johnson Financial Group Inc. Reduces Position in OGE Energy Corp. (NYSE:OGE)

Johnson Financial Group Inc. trimmed its holdings in OGE Energy Corp. (NYSE:OGE) by 50.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,581 shares of the utilities provider’s stock after selling 14,879 shares during the quarter. Johnson Financial Group Inc.’s holdings in OGE Energy were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OGE. EverSource Wealth Advisors LLC grew its holdings in OGE Energy by 178.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after buying an additional 488 shares in the last quarter. Authentikos Wealth Advisory LLC acquired a new stake in OGE Energy during the third quarter worth about $43,000. Advantage Trust Co purchased a new position in OGE Energy during the fourth quarter worth about $49,000. Headlands Technologies LLC boosted its holdings in OGE Energy by 441.9% in the 4th quarter. Headlands Technologies LLC now owns 1,436 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 1,171 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of OGE Energy in the 4th quarter valued at approximately $66,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on OGE. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. TheStreet lowered OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $33.40.

OGE Energy Trading Up 0.1 %

Shares of NYSE OGE traded up $0.03 during trading on Friday, reaching $35.65. The stock had a trading volume of 1,319,451 shares, compared to its average volume of 1,365,171. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51. The company has a market cap of $7.15 billion, a P/E ratio of 18.10, a PEG ratio of 3.35 and a beta of 0.72. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $37.30. The business’s 50-day moving average price is $34.66 and its 200-day moving average price is $34.33.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). The firm had revenue of $596.80 million during the quarter, compared to analyst estimates of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. On average, equities research analysts predict that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be issued a dividend of $0.418 per share. The ex-dividend date is Monday, July 8th. This represents a $1.67 dividend on an annualized basis and a yield of 4.69%. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

About OGE Energy

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.