Wedge Capital Management L L P NC Sells 51,883 Shares of OGE Energy Corp. (NYSE:OGE)

Wedge Capital Management L L P NC lessened its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,028 shares of the utilities provider's stock after selling 51,883 shares during the quarter. Wedge Capital Management L L P NC owned about 0.15% of OGE Energy worth $12,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in OGE Energy during the third quarter worth approximately $30,000. Kimelman & Baird LLC purchased a new position in OGE Energy during the second quarter valued at approximately $38,000. Fortitude Family Office LLC acquired a new position in OGE Energy in the 3rd quarter worth about $63,000. Wilmington Savings Fund Society FSB bought a new stake in OGE Energy in the third quarter worth approximately $134,000. Finally, Blue Trust Inc. raised its holdings in shares of OGE Energy by 45.1% during the 3rd quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider's stock valued at $163,000 after purchasing an additional 1,236 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Performance

OGE Energy stock traded up $0.24 during mid-day trading on Friday, reaching $42.61. The company had a trading volume of 751,004 shares, compared to its average volume of 864,038. The company has a 50 day moving average of $42.09 and a 200-day moving average of $40.39. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 3.40 and a beta of 0.77.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that OGE Energy Corp. will post 2.16 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 3.95%. OGE Energy's dividend payout ratio (DPR) is currently 87.05%.

Wall Street Analyst Weigh In

Separately, Barclays increased their price objective on OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $42.67.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company's stock.

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.