Tyche Wealth Partners LLC Takes Position in OGE Energy Corp. (NYSE:OGE)

Tyche Wealth Partners LLC purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,732 shares of the utilities provider’s stock, valued at approximately $235,000.

Several other institutional investors have also recently made changes to their positions in the company. United Capital Financial Advisers LLC increased its holdings in OGE Energy by 2.4% in the 4th quarter. United Capital Financial Advisers LLC now owns 13,004 shares of the utilities provider’s stock valued at $514,000 after purchasing an additional 305 shares during the last quarter. Brighton Jones LLC increased its holdings in OGE Energy by 5.8% in the 3rd quarter. Brighton Jones LLC now owns 6,334 shares of the utilities provider’s stock valued at $211,000 after purchasing an additional 345 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in OGE Energy by 0.8% in the 1st quarter. First Republic Investment Management Inc. now owns 43,660 shares of the utilities provider’s stock valued at $1,780,000 after purchasing an additional 358 shares during the last quarter. Captrust Financial Advisors increased its holdings in OGE Energy by 1.5% in the 4th quarter. Captrust Financial Advisors now owns 25,863 shares of the utilities provider’s stock valued at $1,023,000 after purchasing an additional 373 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in OGE Energy by 4.3% in the 3rd quarter. Fifth Third Bancorp now owns 9,757 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

NYSE:OGE opened at $33.15 on Friday. The company has a fifty day simple moving average of $33.47 and a two-hundred day simple moving average of $34.01. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $38.04.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $566.70 million during the quarter, compared to the consensus estimate of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be paid a dividend of $0.418 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.04%. OGE Energy’s payout ratio is currently 80.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OGE. StockNews.com downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, April 5th. LADENBURG THALM/SH SH downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Barclays dropped their price target on shares of OGE Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Finally, TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.40.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction on 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 in the company, valued at $879,409.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

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.