Amalgamated Bank Sells 6,679 Shares of OGE Energy Corp. (NYSE:OGE)

Amalgamated Bank lowered its stake in shares of OGE Energy Corp. (NYSE:OGE) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,428 shares of the utilities provider’s stock after selling 6,679 shares during the quarter. Amalgamated Bank’s holdings in OGE Energy were worth $4,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Miller Howard Investments Inc. NY increased its position in shares of OGE Energy by 1,219.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 769,053 shares of the utilities provider’s stock worth $26,863,000 after purchasing an additional 710,761 shares during the period. International Assets Investment Management LLC raised its position in shares of OGE Energy by 3,716.2% in the 4th quarter. International Assets Investment Management LLC now owns 728,161 shares of the utilities provider’s stock valued at $25,435,000 after buying an additional 709,080 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of OGE Energy by 28.6% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 3,083,472 shares of the utilities provider’s stock worth $102,772,000 after acquiring an additional 686,174 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of OGE Energy by 82.5% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,219,445 shares of the utilities provider’s stock worth $40,644,000 after acquiring an additional 551,299 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in OGE Energy by 93.7% during the third quarter. AQR Capital Management LLC now owns 812,161 shares of the utilities provider’s stock valued at $27,069,000 after purchasing an additional 392,947 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Up 1.1 %

NYSE:OGE opened at $35.97 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. OGE Energy Corp. has a one year low of $31.25 and a one year high of $38.04. The firm’s 50 day simple moving average is $33.92 and its 200 day simple moving average is $34.14. The company has a market cap of $7.21 billion, a PE ratio of 18.26, a P/E/G ratio of 3.30 and a beta of 0.72.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). The company had revenue of $596.80 million during the quarter, compared to analyst estimates of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. On average, research analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were given a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Friday, April 5th. OGE Energy’s payout ratio is presently 84.77%.

Wall Street Analyst Weigh In

OGE has been the topic of a number of research analyst reports. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. 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 report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus target price of $33.40.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.