Van ECK Associates Corp Sells 2,934 Shares of OGE Energy Corp. (NYSE:OGE)

Van ECK Associates Corp reduced its holdings in OGE Energy Corp. (NYSE:OGE) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 49,208 shares of the utilities provider’s stock after selling 2,934 shares during the period. Van ECK Associates Corp’s holdings in OGE Energy were worth $1,719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its holdings in shares of OGE Energy by 7.4% during the third quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 544 shares in the last quarter. Smith Graham & Co. Investment Advisors LP bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $3,227,000. California Public Employees Retirement System increased its holdings in shares of OGE Energy by 30.4% during the third quarter. California Public Employees Retirement System now owns 1,046,440 shares of the utilities provider’s stock valued at $34,878,000 after acquiring an additional 244,140 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $1,967,000. Finally, Natixis Advisors L.P. boosted its position in OGE Energy by 46.2% in the third quarter. Natixis Advisors L.P. now owns 104,767 shares of the utilities provider’s stock worth $3,492,000 after purchasing an additional 33,111 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OGE shares. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Barclays cut OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research report on Monday, April 22nd. Finally, TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.40.

OGE Energy Stock Up 0.2 %

Shares of NYSE OGE opened at $36.05 on Thursday. OGE Energy Corp. has a one year low of $31.25 and a one year high of $38.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. The business’s fifty day moving average price is $33.98 and its 200-day moving average price is $34.15. The stock has a market capitalization of $7.23 billion, a PE ratio of 18.30, a P/E/G ratio of 3.30 and a beta of 0.72.

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

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 8th were issued a dividend of $0.418 per share. The ex-dividend date was Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a yield of 4.64%. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated 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 approximately $879,409.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

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.