OGE Energy Corp. (NYSE:OGE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of OGE Energy Corp. (NYSE:OGE) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 130,736 shares of the utilities provider’s stock after selling 3,795 shares during the quarter. PNC Financial Services Group Inc.’s holdings in OGE Energy were worth $4,567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in OGE. Smith Graham & Co. Investment Advisors LP acquired a new position in OGE Energy during the 4th quarter worth $3,227,000. Charles Schwab Investment Management Inc. lifted its position in shares of OGE Energy by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock worth $45,653,000 after purchasing an additional 43,653 shares during the last quarter. TCG Advisory Services LLC grew its stake in OGE Energy by 2,422.2% in the fourth quarter. TCG Advisory Services LLC now owns 154,030 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 147,923 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in OGE Energy in the fourth quarter valued at about $1,967,000. Finally, Natixis Advisors L.P. grew its position in shares of OGE Energy by 46.2% in the 3rd quarter. Natixis Advisors L.P. now owns 104,767 shares of the utilities provider’s stock worth $3,492,000 after acquiring an additional 33,111 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $35.66 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $37.30. The firm has a fifty day moving average of $34.66 and a 200-day moving average of $34.33. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 3.34 and a beta of 0.72.

OGE Energy (NYSE:OGE) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS 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 the consensus estimate of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. OGE Energy’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.13 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 26th. Shareholders of record on Monday, July 8th will be paid a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s payout ratio is currently 84.77%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the 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 transaction, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by insiders.

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.