TCG Advisory Services LLC Has $5.38 Million Position in OGE Energy Corp. (NYSE:OGE)

TCG Advisory Services LLC lifted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 2,422.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 154,030 shares of the utilities provider’s stock after purchasing an additional 147,923 shares during the quarter. TCG Advisory Services LLC’s holdings in OGE Energy were worth $5,380,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OGE. ClearBridge Investments Ltd boosted its stake in shares of OGE Energy by 3.9% during the third quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock valued at $222,806,000 after purchasing an additional 252,456 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in 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 last quarter. Invesco Ltd. increased its position in OGE Energy by 13.4% in the 3rd quarter. Invesco Ltd. now owns 1,842,045 shares of the utilities provider’s stock valued at $61,395,000 after acquiring an additional 217,866 shares during the period. The Manufacturers Life Insurance Company increased its position in OGE Energy by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,389,835 shares of the utilities provider’s stock valued at $46,323,000 after acquiring an additional 15,699 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of OGE Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,263,329 shares of the utilities provider’s stock worth $42,107,000 after purchasing an additional 18,122 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. StockNews.com upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Barclays cut OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research note on Monday, April 22nd. LADENBURG THALM/SH SH downgraded OGE Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and an average target price of $33.40.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Trading Up 0.5 %

Shares of OGE stock traded up $0.16 during mid-day trading on Friday, hitting $35.18. The company’s stock had a trading volume of 1,549,718 shares, compared to its average volume of 1,617,650. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $38.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.51. The company’s fifty day simple moving average is $33.81 and its 200-day simple moving average is $34.11. The company has a market cap of $7.06 billion, a PE ratio of 17.86, a P/E/G ratio of 3.30 and a beta of 0.72.

OGE Energy (NYSE:OGE) last issued its earnings results 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 business had revenue of $596.80 million during the quarter, compared to the consensus estimate of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, equities research analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 8th were paid a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a yield of 4.75%. The ex-dividend date was Friday, April 5th. OGE Energy’s dividend payout ratio is presently 84.77%.

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.