Wealth Enhancement Advisory Services LLC Buys 5,043 Shares of OGE Energy Corporation (NYSE:OGE)

Wealth Enhancement Advisory Services LLC grew its stake in OGE Energy Corporation (NYSE:OGE) by 19.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,922 shares of the utilities provider’s stock after purchasing an additional 5,043 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in OGE Energy were worth $1,421,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in shares of OGE Energy by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 239 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of OGE Energy by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock worth $1,161,000 after acquiring an additional 354 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 361 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of OGE Energy by 5.9% during the 1st quarter. Merit Financial Group LLC now owns 6,887 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 382 shares during the last quarter. Finally, Donald L. Hagan LLC lifted its stake in shares of OGE Energy by 2.9% during the 1st quarter. Donald L. Hagan LLC now owns 15,682 shares of the utilities provider’s stock worth $721,000 after acquiring an additional 443 shares during the last quarter. 71.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $302,841.00. Following the transaction, the insider directly owned 72,548 shares in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president owned 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of a number of research analyst reports. Wells Fargo & Company raised 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. Argus raised 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. Barclays raised OGE Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $46.80.

OGE Energy Trading Up 0.7%

Shares of NYSE OGE opened at $44.35 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.73 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $44.36 and a two-hundred day simple moving average of $43.67. The firm has a market cap of $8.93 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 3.07 and a beta of 0.60. OGE Energy Corporation has a twelve month low of $34.94 and a twelve month high of $46.91.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. OGE Energy’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business 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 $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. OGE Energy’s dividend payout ratio is presently 69.42%.

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.