Cutler Investment Counsel LLC Acquires Shares of 7,578 OGE Energy Corp. (NYSE:OGE)

Cutler Investment Counsel LLC acquired a new stake in OGE Energy Corp. (NYSE:OGE) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 7,578 shares of the utilities provider’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. Tyche Wealth Partners LLC purchased a new stake in shares of OGE Energy during the 4th quarter worth approximately $235,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of OGE Energy by 10.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,114 shares of the utilities provider’s stock worth $1,506,000 after purchasing an additional 4,235 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of OGE Energy during the 4th quarter worth approximately $1,967,000. Koshinski Asset Management Inc. purchased a new stake in shares of OGE Energy during the 4th quarter worth approximately $210,000. Finally, Smith Graham & Co. Investment Advisors LP purchased a new stake in shares of OGE Energy during the 4th quarter worth approximately $3,227,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

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

OGE Energy Stock Up 2.7 %

OGE opened at $34.05 on Friday. The company has a 50 day moving average of $33.50 and a 200 day moving average of $34.03. The company has a market cap of $6.83 billion, a PE ratio of 16.45, a price-to-earnings-growth 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.

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

OGE Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 8th will be issued a $0.418 dividend. 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 80.68%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

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.