Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of OGE Energy Corp. (NYSE:OGE) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,114 shares of the utilities provider’s stock after purchasing an additional 4,235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OGE Energy were worth $1,506,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of OGE Energy by 5.8% in the third quarter. Brighton Jones LLC now owns 6,334 shares of the utilities provider’s stock worth $211,000 after buying an additional 345 shares during the period. Fifth Third Bancorp increased its holdings in shares of OGE Energy by 4.3% in the third quarter. Fifth Third Bancorp now owns 9,757 shares of the utilities provider’s stock worth $325,000 after buying an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of OGE Energy by 3.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,768 shares of the utilities provider’s stock worth $411,000 after buying an additional 435 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of OGE Energy by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 90,606 shares of the utilities provider’s stock worth $3,020,000 after buying an additional 461 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in shares of OGE Energy by 7.4% in the third quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock worth $265,000 after buying an additional 544 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE Energy stock opened at $34.48 on Friday. The stock’s 50 day simple moving average is $33.59 and its two-hundred day simple moving average is $34.07. 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 has a market cap of $6.91 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 3.18 and a beta of 0.73. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $38.04.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share 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 analysts’ expectations of $986.67 million. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The business’s revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. As a group, analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 8th will be given a dividend of $0.418 per share. The ex-dividend date is Friday, April 5th. This represents a $1.67 annualized dividend and a yield of 4.85%. OGE Energy’s payout ratio is 80.68%.

Insider Buying and Selling at OGE Energy

In other 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 value of $142,023.04. Following 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on OGE. TheStreet downgraded OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Barclays cut OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research note on Monday. LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. Finally, StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.40.

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.