Northpointe Capital LLC Invests $3.69 Million in OGE Energy Corp. (OGE)

Northpointe Capital LLC bought a new position in shares of OGE Energy Corp. (NYSE:OGE) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 85,458 shares of the utilities provider’s stock, valued at approximately $3,685,000.

Several other large investors have also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new position in OGE Energy in the 4th quarter worth approximately $28,000. Vigilant Capital Management LLC purchased a new position in OGE Energy in the 4th quarter worth approximately $39,000. Valeo Financial Advisors LLC purchased a new position in OGE Energy in the 1st quarter worth approximately $43,000. Proficio Capital Partners LLC boosted its holdings in OGE Energy by 79.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,110 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 493 shares during the period. Finally, Doyle Wealth Management purchased a new position in OGE Energy in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 69.15% of the company’s stock.

Shares of OGE traded down $0.01 during trading on Wednesday, reaching $41.58. The company’s stock had a trading volume of 18,903 shares, compared to its average volume of 1,367,897. OGE Energy Corp. has a twelve month low of $32.17 and a twelve month high of $43.76. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.26 and a beta of 0.56. The company has a quick ratio of 0.43, a current ratio of 0.64 and a debt-to-equity ratio of 0.72.

OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, February 21st. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. OGE Energy had a return on equity of 10.80% and a net margin of 18.74%. The company had revenue of $511.80 million for the quarter, compared to analyst estimates of $490.80 million. During the same period in the prior year, the company posted $0.30 EPS. OGE Energy’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, April 9th. OGE Energy’s payout ratio is 68.87%.

OGE has been the subject of a number of analyst reports. Zacks Investment Research upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Monday, February 18th. Wolfe Research initiated coverage on OGE Energy in a report on Friday, March 15th. They issued a “market perform” rating for the company. Guggenheim cut OGE Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Finally, Goldman Sachs Group cut OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price target for the company. in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. OGE Energy has a consensus rating of “Hold” and an average price target of $39.40.

In other OGE Energy news, VP Jerry A. Peace sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $42.28, for a total value of $169,120.00. Following the transaction, the vice president now directly owns 18,417 shares of the company’s stock, valued at approximately $778,670.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kenneth R. Grant sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $42.20, for a total value of $63,300.00. Following the completion of the transaction, the vice president now directly owns 10,768 shares in the company, valued at $454,409.60. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

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About OGE Energy

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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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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