Raymond James & Associates Sells 45,234 Shares of OGE Energy Corp. (NYSE:OGE)

Raymond James & Associates trimmed its stake in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 28.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,819 shares of the utilities provider’s stock after selling 45,234 shares during the quarter. Raymond James & Associates owned about 0.06% of OGE Energy worth $4,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in OGE Energy by 39.5% during the third quarter. Quadrant Capital Group LLC now owns 1,169 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 331 shares during the period. Lincoln National Corp boosted its position in shares of OGE Energy by 53.4% in the third quarter. Lincoln National Corp now owns 12,630 shares of the utilities provider’s stock valued at $460,000 after acquiring an additional 4,395 shares during the period. Invst LLC boosted its position in shares of OGE Energy by 10.8% in the third quarter. Invst LLC now owns 22,142 shares of the utilities provider’s stock valued at $771,000 after acquiring an additional 2,164 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of OGE Energy by 9.4% in the third quarter. Avantax Advisory Services Inc. now owns 12,779 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 1,093 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of OGE Energy by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 53,600 shares of the utilities provider’s stock valued at $2,120,000 after acquiring an additional 300 shares during the period. 67.78% of the stock is owned by institutional investors.

OGE Energy Stock Down 0.6 %

Shares of NYSE:OGE opened at $35.97 on Wednesday. OGE Energy Corp. has a 52-week low of $33.28 and a 52-week high of $42.91. The company has a market capitalization of $7.20 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.73. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.64 and a current ratio of 0.84. The company has a fifty day moving average of $37.15 and a 200-day moving average of $38.12.

OGE Energy (NYSE:OGE – Get Rating) last issued its earnings results on Thursday, May 4th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. OGE Energy had a return on equity of 9.71% and a net margin of 12.70%. The business had revenue of $544.60 million during the quarter, compared to analysts’ expectations of $556.82 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities analysts predict that OGE Energy Corp. will post 2.01 EPS for the current fiscal year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Monday, July 10th will be given a dividend of $0.414 per share. The ex-dividend date of this dividend is Friday, July 7th. This represents a $1.66 annualized dividend and a yield of 4.60%. OGE Energy’s dividend payout ratio is presently 78.67%.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent research reports. UBS Group cut shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $39.00 in a research report on Tuesday, February 28th. Bank of America cut shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $39.00 in a research report on Friday, February 24th. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Monday, March 27th. Mizuho cut their price objective on shares of OGE Energy from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, March 23rd. Finally, LADENBURG THALM/SH SH started coverage on shares of OGE Energy in a research report on Thursday, April 20th. They set a “neutral” rating and a $37.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average price target of $38.75.

Insiders Place Their Bets

In other OGE Energy news, Director David L. Hauser acquired 1,000 shares of OGE Energy stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average price of $35.09 per share, with a total value of $35,090.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $105,270. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David L. Hauser acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average cost of $35.09 per share, with a total value of $35,090.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $105,270. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. Rainbolt acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was bought at an average cost of $36.65 per share, for a total transaction of $183,250.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at $549,750. The disclosure for this purchase can be found here. Insiders have acquired 6,100 shares of company stock valued at $221,925 in the last ninety days. 0.42% of the stock is currently owned by insiders.

OGE Energy Company Profile

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OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.