OGE Energy Corp. (OGE) Shares Sold by Stevens Capital Management LP
Stevens Capital Management LP cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 82.6% in the first quarter, HoldingsChannel.com reports. The firm owned 19,959 shares of the utilities provider’s stock after selling 94,795 shares during the quarter. Stevens Capital Management LP’s holdings in OGE Energy were worth $861,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in OGE. CNB Bank acquired a new stake in OGE Energy in the 1st quarter valued at about $26,000. Cornerstone Advisors Inc. raised its position in OGE Energy by 154.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 620 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 376 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in OGE Energy in the 4th quarter valued at about $28,000. Vigilant Capital Management LLC acquired a new stake in OGE Energy in the 4th quarter valued at about $39,000. Finally, Valeo Financial Advisors LLC acquired a new stake in OGE Energy in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 69.59% of the company’s stock.
Shares of NYSE OGE opened at $41.77 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.73. OGE Energy Corp. has a fifty-two week low of $33.19 and a fifty-two week high of $43.76. The stock has a market cap of $8.45 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 4.31 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, April 9th. OGE Energy’s dividend payout ratio (DPR) is presently 68.87%.
In other news, VP Kenneth R. Grant sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $42.20, for a total transaction of $63,300.00. Following the sale, the vice president now owns 10,768 shares of the company’s stock, valued at approximately $454,409.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jerry A. Peace sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $42.28, for a total value of $169,120.00. Following the sale, the vice president now directly owns 18,417 shares in the company, valued at approximately $778,670.76. The disclosure for this sale can be found here. Insiders have sold a total of 5,575 shares of company stock worth $235,566 in the last three months. Corporate insiders own 0.49% of the company’s stock.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised OGE Energy from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 23rd. Goldman Sachs Group lowered OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price target on the stock. in a research report on Monday, April 8th. Finally, Wolfe Research assumed coverage on OGE Energy in a research report on Friday, March 15th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $39.20.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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