John G Ullman & Associates Inc. Sells 4,508 Shares of OGE Energy Corp. (NYSE:OGE)

John G Ullman & Associates Inc. cut its holdings in OGE Energy Corp. (NYSE:OGE) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 567,580 shares of the utilities provider’s stock after selling 4,508 shares during the period. OGE Energy comprises approximately 3.1% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 4th biggest holding. John G Ullman & Associates Inc. owned approximately 0.28% of OGE Energy worth $19,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of OGE Energy by 1.5% in the first quarter. BlackRock Inc. now owns 24,046,611 shares of the utilities provider’s stock valued at $905,595,000 after buying an additional 345,949 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of OGE Energy by 1.4% in the third quarter. Vanguard Group Inc. now owns 20,674,150 shares of the utilities provider’s stock valued at $753,780,000 after buying an additional 294,759 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of OGE Energy by 98,211.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,361,568 shares of the utilities provider’s stock valued at $291,150,000 after buying an additional 7,354,080 shares in the last quarter. State Street Corp grew its stake in shares of OGE Energy by 1.5% in the third quarter. State Street Corp now owns 7,122,492 shares of the utilities provider’s stock valued at $259,686,000 after buying an additional 103,185 shares in the last quarter. Finally, ClearBridge Investments Ltd grew its stake in shares of OGE Energy by 3.9% in the third quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock valued at $222,806,000 after buying an additional 252,456 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on OGE shares. Barclays reduced their price objective on shares of OGE Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. StockNews.com cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average price target of $33.40.

OGE Energy Price Performance

OGE stock traded up $0.93 during midday trading on Friday, reaching $34.08. The company had a trading volume of 806,407 shares, compared to its average volume of 1,552,381. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73. The stock has a 50 day moving average price of $33.47 and a 200-day moving average price of $34.01. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $38.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping 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 return on equity of 9.37% and a net margin of 15.59%. The business’s quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 8th will be paid a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a yield of 4.91%. The ex-dividend date is Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

OGE Energy Company 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.