Bfsg LLC Sells 815 Shares of OGE Energy Corp. (NYSE:OGE)

Bfsg LLC cut its holdings in OGE Energy Corp. (NYSE:OGE) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,541 shares of the utilities provider’s stock after selling 815 shares during the period. Bfsg LLC’s holdings in OGE Energy were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. ClearBridge Investments Ltd increased its holdings in shares of OGE Energy by 3.9% in the 3rd quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock worth $222,806,000 after buying an additional 252,456 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of OGE Energy by 28.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 3,083,472 shares of the utilities provider’s stock worth $102,772,000 after buying an additional 686,174 shares during the last quarter. Invesco Ltd. increased its holdings in shares of OGE Energy by 13.4% in the 3rd quarter. Invesco Ltd. now owns 1,842,045 shares of the utilities provider’s stock worth $61,395,000 after buying an additional 217,866 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of OGE Energy by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,389,835 shares of the utilities provider’s stock worth $46,323,000 after buying an additional 15,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of OGE Energy by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,263,329 shares of the utilities provider’s stock worth $42,107,000 after purchasing an additional 18,122 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction of $142,023.04. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

OGE has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. 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 report on Monday. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.40.

OGE Energy Stock Performance

OGE Energy stock traded up $0.40 during mid-day trading on Wednesday, reaching $34.32. 2,218,271 shares of the company traded hands, compared to its average volume of 1,579,615. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30. 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 market capitalization of $6.88 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 3.19 and a beta of 0.73. The firm’s fifty day moving average is $33.56 and its two-hundred day moving average is $34.07.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The business had revenue of $566.70 million for 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 business’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. On average, equities research analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be issued a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Friday, April 5th. OGE Energy’s dividend payout ratio (DPR) is currently 80.68%.

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.