Assetmark Inc. Sells 251,275 Shares of OGE Energy Corporation $OGE

Assetmark Inc. trimmed its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 63.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,019 shares of the utilities provider’s stock after selling 251,275 shares during the period. Assetmark Inc. owned about 0.07% of OGE Energy worth $7,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OGE. Norges Bank purchased a new position in shares of OGE Energy during the fourth quarter valued at about $119,028,000. Morgan Stanley raised its holdings in OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock worth $197,625,000 after buying an additional 2,350,574 shares during the last quarter. Cohen & Steers Inc. purchased a new position in OGE Energy in the 4th quarter worth approximately $68,460,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of OGE Energy by 85.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider’s stock valued at $94,605,000 after purchasing an additional 1,022,863 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new position in OGE Energy during the 4th quarter valued at about $33,929,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

OGE has been the topic of a number of research reports. Morgan Stanley initiated coverage on OGE Energy in a research note on Wednesday, June 24th. They issued an “equal weight” rating and a $50.00 price target on the stock. Barclays raised their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded OGE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Wells Fargo & Company boosted their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus price target of $49.30.

OGE Energy Trading Down 0.6%

NYSE OGE opened at $48.27 on Wednesday. The stock has a market cap of $9.96 billion, a PE ratio of 21.55, a PEG ratio of 3.59 and a beta of 0.53. The company’s 50-day moving average price is $48.03 and its 200-day moving average price is $46.98. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.26. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.OGE Energy’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities research analysts forecast that OGE Energy Corporation will post 2.43 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, July 6th. OGE Energy’s payout ratio is 75.89%.

Insider Activity

In related news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by insiders.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.