Wealth Alliance Advisory Group LLC Invests $220,000 in OGE Energy Corp. (NYSE:OGE)

Wealth Alliance Advisory Group LLC acquired a new position in OGE Energy Corp. (NYSE:OGE) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,776 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other hedge funds have also recently bought and sold shares of OGE. Headlands Technologies LLC bought a new position in OGE Energy in the 4th quarter worth about $27,000. Bessemer Group Inc. boosted its position in shares of OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after buying an additional 361 shares during the period. Stonebridge Financial Group LLC bought a new position in OGE Energy in the 4th quarter worth approximately $35,000. Principal Securities Inc. grew its holdings in OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after buying an additional 659 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in OGE Energy in the 4th quarter valued at approximately $44,000. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OGE has been the subject of a number of analyst reports. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Friday, April 11th. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a report on Friday, May 9th. Wells Fargo & Company upped their target price on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Finally, Barclays lifted their price target on OGE Energy from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy currently has an average rating of “Moderate Buy” and an average target price of $46.40.

Insider Activity

In other news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now directly owns 72,548 shares of the company’s stock, valued at $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donnie O. Jones sold 11,351 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the sale, the vice president now owns 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

OGE Energy Stock Down 0.1%

OGE stock opened at $44.30 on Wednesday. The firm has a market cap of $8.92 billion, a PE ratio of 20.14, a P/E/G ratio of 3.30 and a beta of 0.60. OGE Energy Corp. has a 12 month low of $34.84 and a 12 month high of $46.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The firm has a 50 day simple moving average of $44.48 and a 200 day simple moving average of $43.53.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The company had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. Equities research analysts forecast that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, July 7th. OGE Energy’s dividend payout ratio (DPR) is presently 69.42%.

OGE Energy 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.