Clearbridge Investments LLC Invests $208,000 in OGE Energy Corp. (NYSE:OGE)

Clearbridge Investments LLC bought a new position in shares of OGE Energy Corp. (NYSE:OGE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,957 shares of the utilities provider’s stock, valued at approximately $208,000.

A number of other institutional investors also recently modified their holdings of OGE. Authentikos Wealth Advisory LLC acquired a new position in shares of OGE Energy during the third quarter worth approximately $43,000. Advantage Trust Co acquired a new position in shares of OGE Energy during the fourth quarter worth approximately $49,000. Headlands Technologies LLC raised its position in shares of OGE Energy by 441.9% during the fourth quarter. Headlands Technologies LLC now owns 1,436 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 1,171 shares during the period. GAMMA Investing LLC acquired a new position in shares of OGE Energy during the fourth quarter worth approximately $66,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in OGE Energy in the 3rd quarter valued at $105,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OGE has been the subject of a number of analyst reports. Argus lowered OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays lowered OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research report on Monday, April 22nd. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, TheStreet lowered shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.40.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the transaction, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

OGE Energy Stock Up 0.1 %

OGE stock opened at $35.65 on Monday. The stock has a fifty day moving average of $34.66 and a 200-day moving average of $34.33. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $37.30. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 3.35 and a beta of 0.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The business had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. During the same quarter in the prior year, the business earned $0.19 EPS. OGE Energy’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be issued a dividend of $0.418 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.67 dividend on an annualized basis and a yield of 4.69%. OGE Energy’s payout ratio is 84.77%.

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.