Wedge Capital Management L L P NC Trims Holdings in OGE Energy Corp. (NYSE:OGE)

Wedge Capital Management L L P NC lowered its position in shares of OGE Energy Corp. (NYSE:OGE) by 14.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 315,170 shares of the utilities provider’s stock after selling 51,223 shares during the period. Wedge Capital Management L L P NC’s holdings in OGE Energy were worth $11,009,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Foster & Motley Inc. raised its stake in shares of OGE Energy by 16.2% in the fourth quarter. Foster & Motley Inc. now owns 17,755 shares of the utilities provider’s stock worth $620,000 after purchasing an additional 2,480 shares during the last quarter. Duality Advisers LP increased its holdings in OGE Energy by 25.4% during the 4th quarter. Duality Advisers LP now owns 78,330 shares of the utilities provider’s stock worth $2,736,000 after purchasing an additional 15,841 shares during the period. Brendel Financial Advisors LLC acquired a new position in shares of OGE Energy during the 4th quarter worth about $419,000. Cutler Investment Counsel LLC acquired a new stake in OGE Energy during the 4th quarter worth approximately $265,000. Finally, Tyche Wealth Partners LLC acquired a new stake in OGE Energy during the 4th quarter worth approximately $235,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Buying and Selling

In other 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 value of $142,023.04. Following the transaction, the vice president now 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 Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OGE shares. Barclays cut OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research note on Monday. StockNews.com cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. TheStreet lowered shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $33.40.

OGE Energy Stock Performance

Shares of NYSE:OGE traded up $0.09 on Tuesday, reaching $34.13. 284,981 shares of the company’s stock were exchanged, compared to its average volume of 1,552,925. The company has a fifty day moving average of $33.52 and a 200-day moving average of $34.06. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $38.04. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 3.19 and a beta of 0.73. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96.

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

OGE Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be given a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend 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.