Osborne Partners Capital Management LLC Sells 800 Shares of OGE Energy Corp. (NYSE:OGE)

Osborne Partners Capital Management LLC lowered its stake in shares of OGE Energy Corp. (NYSE:OGEFree Report) by 11.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,500 shares of the utilities provider’s stock after selling 800 shares during the period. Osborne Partners Capital Management LLC’s holdings in OGE Energy were worth $227,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. American Century Companies Inc. raised its position in OGE Energy by 56.9% in the first quarter. American Century Companies Inc. now owns 52,482 shares of the utilities provider’s stock worth $2,140,000 after purchasing an additional 19,035 shares in the last quarter. Citigroup Inc. grew its stake in OGE Energy by 24.4% during the first quarter. Citigroup Inc. now owns 56,516 shares of the utilities provider’s stock worth $2,305,000 after buying an additional 11,082 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in OGE Energy by 14.9% during the first quarter. Great West Life Assurance Co. Can now owns 120,197 shares of the utilities provider’s stock worth $5,036,000 after buying an additional 15,620 shares during the last quarter. Sei Investments Co. grew its stake in OGE Energy by 16.1% during the first quarter. Sei Investments Co. now owns 38,387 shares of the utilities provider’s stock worth $1,606,000 after buying an additional 5,317 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in OGE Energy by 371.2% during the first quarter. Canada Pension Plan Investment Board now owns 452,349 shares of the utilities provider’s stock worth $18,447,000 after buying an additional 356,349 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OGE. Barclays decreased their price objective on shares of OGE Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, OGE Energy currently has an average rating of “Hold” and a consensus price target of $33.40.

Get Our Latest Research Report on OGE

OGE Energy Stock Performance

Shares of OGE traded up $0.33 during midday trading on Tuesday, reaching $34.68. The stock had a trading volume of 140,527 shares, compared to its average volume of 1,578,262. The firm has a 50 day simple moving average of $33.33 and a 200-day simple moving average of $34.11. OGE Energy Corp. has a one year low of $31.25 and a one year high of $39.09. The firm has a market cap of $6.95 billion, a PE ratio of 16.73, a P/E/G ratio of 4.02 and a beta of 0.73. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGEGet Free Report) last announced its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $566.70 million during the quarter, compared to the consensus estimate of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. OGE Energy’s revenue was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, sell-side analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be issued a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

OGE Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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