Ameriprise Financial Inc. Sells 20,765 Shares of OGE Energy Corp. (NYSE:OGE)

Ameriprise Financial Inc. lowered its holdings in OGE Energy Corp. (NYSE:OGE) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 276,110 shares of the utilities provider’s stock after selling 20,765 shares during the period. Ameriprise Financial Inc. owned approximately 0.14% of OGE Energy worth $11,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of OGE Energy by 45.1% in the third quarter. Barclays PLC now owns 126,230 shares of the utilities provider’s stock valued at $5,176,000 after buying an additional 39,263 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in OGE Energy in the 4th quarter valued at $252,000. Merit Financial Group LLC lifted its position in shares of OGE Energy by 14.2% during the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock valued at $268,000 after acquiring an additional 810 shares during the period. M.E. Allison & CO. Inc. acquired a new stake in shares of OGE Energy during the 4th quarter worth $215,000. Finally, UMB Bank n.a. increased its position in shares of OGE Energy by 6.7% in the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 515 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Friday, May 9th. Argus raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Friday, April 11th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their price target on OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.40.

Insider Activity

In related news, insider William H. Sultemeier sold 6,650 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the sale, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $44.36 on Monday. The company’s 50 day moving average price is $44.61 and its two-hundred day moving average price is $43.35. The firm has a market capitalization of $8.93 billion, a P/E ratio of 20.16, a P/E/G ratio of 3.30 and a beta of 0.61. OGE Energy Corp. has a fifty-two week low of $34.20 and a fifty-two week high of $46.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. OGE Energy’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. On average, equities analysts forecast that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, July 7th. OGE Energy’s dividend payout ratio (DPR) is currently 69.42%.

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.