Gaddis Premier Wealth Advisors LLC purchased a new position in OGE Energy Corporation (NYSE:OGE – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 33,494 shares of the utilities provider’s stock, valued at approximately $1,430,000. OGE Energy comprises 1.1% of Gaddis Premier Wealth Advisors LLC’s holdings, making the stock its 18th biggest holding.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Millennium Management LLC boosted its stake in OGE Energy by 1,160.8% in the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after purchasing an additional 87,433 shares during the period. Goldman Sachs Group Inc. boosted its stake in OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after purchasing an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in OGE Energy by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after purchasing an additional 23,051 shares during the period. Focus Partners Wealth boosted its stake in OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 637 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on OGE. JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective for the company. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Wells Fargo & Company raised their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Mizuho set a $49.00 price objective on shares of OGE Energy in a research note on Thursday, February 19th. Finally, Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and an average target price of $49.11.
Insider Activity
In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.
OGE Energy Trading Down 2.6%
Shares of NYSE:OGE opened at $46.58 on Tuesday. The firm has a fifty day moving average of $47.80 and a two-hundred day moving average of $45.93. The firm has a market capitalization of $9.61 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 3.54 and a beta of 0.53. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.13. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09.
OGE Energy (NYSE:OGE – Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, equities analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.
OGE Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. OGE Energy’s dividend payout ratio (DPR) is 75.89%.
OGE Energy Company Profile
OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.
In addition to its core electric utility operations, OGE Energy Corp.
Featured Articles
- Five stocks we like better than OGE Energy
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding OGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OGE Energy Corporation (NYSE:OGE – Free Report).
Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.
