Cutler Investment Counsel LLC Purchases New Shares in OGE Energy Corp. (NYSE:OGE)

Cutler Investment Counsel LLC purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,578 shares of the utilities provider’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OGE. Coldstream Capital Management Inc. boosted its position in OGE Energy by 7.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock valued at $265,000 after buying an additional 544 shares during the last quarter. Smith Graham & Co. Investment Advisors LP bought a new position in OGE Energy in the 4th quarter valued at $3,227,000. California Public Employees Retirement System boosted its position in OGE Energy by 30.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,046,440 shares of the utilities provider’s stock valued at $34,878,000 after buying an additional 244,140 shares during the last quarter. Natixis Advisors L.P. boosted its position in OGE Energy by 46.2% in the 3rd quarter. Natixis Advisors L.P. now owns 104,767 shares of the utilities provider’s stock valued at $3,492,000 after buying an additional 33,111 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in OGE Energy by 93.7% in the 3rd quarter. AQR Capital Management LLC now owns 812,161 shares of the utilities provider’s stock valued at $27,069,000 after buying an additional 392,947 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. LADENBURG THALM/SH SH lowered OGE Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Barclays reduced their price target on OGE Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. StockNews.com lowered OGE Energy from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, TheStreet lowered OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, OGE Energy currently has an average rating of “Hold” and a consensus target price of $33.40.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $34.05 on Friday. The company has a market capitalization of $6.83 billion, a PE ratio of 16.45, a PEG ratio of 3.11 and a beta of 0.73. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $38.04. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. The stock’s fifty day simple moving average is $33.50 and its 200 day simple moving average is $34.03.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $566.70 million for the quarter, compared to the consensus estimate of $986.67 million. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The firm’s revenue was down 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, research analysts predict that OGE Energy Corp. will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be paid a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a yield of 4.91%. The ex-dividend date is Friday, April 5th. OGE Energy’s payout ratio is presently 80.68%.

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.