Johnson Financial Group Inc. Reduces Stock Position in OGE Energy Corp. (NYSE:OGE)

Johnson Financial Group Inc. cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 50.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,581 shares of the utilities provider’s stock after selling 14,879 shares during the period. Johnson Financial Group Inc.’s holdings in OGE Energy were worth $509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in OGE Energy by 3.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,768 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 435 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of OGE Energy by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 90,606 shares of the utilities provider’s stock valued at $3,020,000 after acquiring an additional 461 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of OGE Energy by 178.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 488 shares in the last quarter. Retirement Investment Advisors Inc. increased its position in shares of OGE Energy by 2.1% in the third quarter. Retirement Investment Advisors Inc. now owns 26,988 shares of the utilities provider’s stock worth $900,000 after purchasing an additional 554 shares during the last quarter. Finally, Tectonic Advisors LLC raised its stake in OGE Energy by 5.6% in the fourth quarter. Tectonic Advisors LLC now owns 10,616 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 563 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

OGE Energy Stock Up 0.1 %

OGE stock traded up $0.03 on Friday, reaching $35.65. 1,319,451 shares of the company traded hands, compared to its average volume of 1,365,171. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. The firm has a fifty day simple moving average of $34.66 and a 200-day simple moving average of $34.33. OGE Energy Corp. has a one year low of $31.25 and a one year high of $37.30. The company has a market cap of $7.15 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 3.35 and a beta of 0.72.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $607.37 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Announces Dividend

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

About OGE Energy

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.