Kovack Advisors Inc. Sells 749 Shares of OGE Energy Corp. (NYSE:OGE)

Kovack Advisors Inc. cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,933 shares of the utilities provider’s stock after selling 749 shares during the period. Kovack Advisors Inc.’s holdings in OGE Energy were worth $272,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Smith Graham & Co. Investment Advisors LP bought a new stake in shares of OGE Energy during the 4th quarter worth $3,227,000. TD Asset Management Inc bought a new stake in shares of OGE Energy during the 4th quarter worth $1,965,000. Charles Schwab Investment Management Inc. raised its stake in shares of OGE Energy by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock worth $45,653,000 after purchasing an additional 43,653 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of OGE Energy by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock worth $49,589,000 after purchasing an additional 144,487 shares during the period. Finally, TCG Advisory Services LLC raised its stake in shares of OGE Energy by 2,422.2% during the 4th quarter. TCG Advisory Services LLC now owns 154,030 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 147,923 shares during the period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 0.5 %

OGE stock opened at $35.60 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $7.14 billion, a PE ratio of 18.07, a PEG ratio of 3.34 and a beta of 0.74. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $37.30. The stock has a 50-day simple moving average of $35.68 and a two-hundred day simple moving average of $34.44.

OGE Energy (NYSE:OGE) last posted 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 company had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities analysts predict that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be issued a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s payout ratio is 84.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Barclays lifted their price objective on OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 18th. Finally, Argus lowered OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.60.

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.