OGE Energy Corp. (NYSE:OGE) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 92.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,532 shares of the utilities provider’s stock after selling 87,111 shares during the period. Millennium Management LLC’s holdings in OGE Energy were worth $311,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of OGE Energy by 8.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 400,739 shares of the utilities provider’s stock valued at $16,530,000 after acquiring an additional 31,032 shares in the last quarter. Gotham Asset Management LLC grew its stake in OGE Energy by 23.7% in the fourth quarter. Gotham Asset Management LLC now owns 10,878 shares of the utilities provider’s stock worth $449,000 after purchasing an additional 2,084 shares in the last quarter. Focus Partners Wealth grew its stake in OGE Energy by 62.6% in the fourth quarter. Focus Partners Wealth now owns 8,508 shares of the utilities provider’s stock worth $351,000 after purchasing an additional 3,274 shares in the last quarter. Deutsche Bank AG grew its stake in OGE Energy by 417.3% in the fourth quarter. Deutsche Bank AG now owns 77,990 shares of the utilities provider’s stock worth $3,217,000 after purchasing an additional 62,913 shares in the last quarter. Finally, DC Investments Management LLC grew its stake in OGE Energy by 40.9% in the fourth quarter. DC Investments Management LLC now owns 62,313 shares of the utilities provider’s stock worth $2,570,000 after purchasing an additional 18,083 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the subject of a number of research reports. Barclays upgraded OGE Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, April 11th. Wells Fargo & Company lifted their price target on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 1st. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.80.

OGE Energy Stock Performance

Shares of OGE stock opened at $44.01 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average of $44.26 and a two-hundred day moving average of $43.55. OGE Energy Corp. has a 52 week low of $34.84 and a 52 week high of $46.91. The company has a market cap of $8.86 billion, a P/E ratio of 20.00, a PEG ratio of 3.30 and a beta of 0.59.

OGE Energy (NYSE:OGE) last issued its 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. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The company had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. During the same period in the previous year, the firm posted $0.09 earnings per share. OGE Energy’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, analysts anticipate that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.83%. OGE Energy’s payout ratio is currently 69.42%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the sale, the insider now owns 72,548 shares of the company’s stock, valued at $3,303,835.92. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president now owns 43,932 shares of the company’s stock, valued at $1,935,643.92. This trade represents a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.55% 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.