Insider Selling: OGE Energy Corp. (NYSE:OGE) VP Sells $214,542.72 in Stock

OGE Energy Corp. (NYSE:OGE) VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

OGE Energy Price Performance

Shares of NYSE OGE opened at $42.79 on Friday. The firm has a market cap of $8.60 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74. The business’s 50 day moving average is $40.85 and its 200-day moving average is $38.40. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.09.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Equities research analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is presently 87.05%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OGE shares. Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays upped their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.40.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. Geode Capital Management LLC grew its holdings in shares of OGE Energy by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock worth $137,433,000 after purchasing an additional 40,733 shares in the last quarter. M&T Bank Corp increased its holdings in OGE Energy by 9.9% in the 3rd quarter. M&T Bank Corp now owns 10,190 shares of the utilities provider’s stock valued at $418,000 after buying an additional 922 shares during the period. Barclays PLC increased its holdings in OGE Energy by 45.1% in the 3rd quarter. Barclays PLC now owns 126,230 shares of the utilities provider’s stock valued at $5,176,000 after buying an additional 39,263 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of OGE Energy in the 3rd quarter valued at approximately $580,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of OGE Energy during the 3rd quarter worth approximately $235,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.