Insider Selling: OGE Energy Corp. (NYSE:OGE) VP Sells 5,008 Shares of Stock

OGE Energy Corp. (NYSE:OGE) VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

OGE Energy Trading Up 2.4 %

NYSE OGE opened at $42.79 on Friday. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The business has a 50 day simple moving average of $40.85 and a 200 day simple moving average of $38.40. The stock has a market capitalization of $8.60 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.85 and a beta of 0.74.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The company had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. Research analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio is 87.05%.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in OGE Energy in the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the second quarter valued at $35,000. Kimelman & Baird LLC acquired a new position in shares of OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC increased its position in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of OGE Energy in the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OGE shares. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Barclays upped their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Evercore ISI raised their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average price target of $39.40.

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.