OGE Energy Corp. (NYSE:OGE) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in OGE Energy Corp. (NYSE:OGE) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,170 shares of the utilities provider’s stock after selling 51,223 shares during the quarter. Wedge Capital Management L L P NC owned about 0.16% of OGE Energy worth $11,009,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Authentikos Wealth Advisory LLC acquired a new stake in shares of OGE Energy during the third quarter worth about $43,000. Avior Wealth Management LLC lifted its position in shares of OGE Energy by 572.5% during the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 1,248 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of OGE Energy during the third quarter worth approximately $105,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of OGE Energy during the third quarter worth approximately $134,000. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of OGE Energy during the fourth quarter worth approximately $210,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on OGE. StockNews.com lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. LADENBURG THALM/SH SH lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. TheStreet lowered shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Finally, Barclays lowered shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research note on Monday. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.40.

OGE Energy Price Performance

OGE Energy stock traded up $0.09 during midday trading on Tuesday, reaching $34.13. The company’s stock had a trading volume of 284,981 shares, compared to its average volume of 1,552,925. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $38.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. The stock’s 50 day simple moving average is $33.52 and its 200 day simple moving average is $34.06. The firm has a market capitalization of $6.84 billion, a PE ratio of 16.44, a P/E/G ratio of 3.19 and a beta of 0.73.

OGE Energy (NYSE:OGE) last released 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. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The business had revenue of $566.70 million for the quarter, compared to analyst estimates of $986.67 million. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue for the quarter was down 20.4% compared to the same quarter last year. On average, equities research analysts forecast that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be paid a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Friday, April 5th. OGE Energy’s dividend payout ratio is currently 80.68%.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.