LFG Wealth Partners LLC purchased a new position in shares of OGE Energy Corporation (NYSE:OGE – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,366 shares of the utilities provider’s stock, valued at approximately $998,000.
Other hedge funds have also made changes to their positions in the company. Verition Fund Management LLC raised its holdings in OGE Energy by 644.4% in the fourth quarter. Verition Fund Management LLC now owns 282,370 shares of the utilities provider’s stock valued at $12,057,000 after acquiring an additional 244,437 shares in the last quarter. MML Investors Services LLC raised its holdings in OGE Energy by 44.6% in the fourth quarter. MML Investors Services LLC now owns 34,168 shares of the utilities provider’s stock valued at $1,459,000 after acquiring an additional 10,535 shares in the last quarter. Mariner LLC raised its holdings in OGE Energy by 21.0% in the fourth quarter. Mariner LLC now owns 77,433 shares of the utilities provider’s stock valued at $3,306,000 after acquiring an additional 13,437 shares in the last quarter. Fieldview Capital Management LLC acquired a new stake in OGE Energy in the fourth quarter valued at approximately $314,000. Finally, Dockside LLC acquired a new stake in OGE Energy in the fourth quarter valued at approximately $437,000. Institutional investors and hedge funds own 71.84% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on OGE. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. LADENBURG THALM/SH SH raised their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. began coverage on shares of OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 target price on the stock. Finally, Mizuho set a $49.00 target price on shares of OGE Energy in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.11.
OGE Energy Stock Up 0.2%
Shares of NYSE:OGE opened at $47.89 on Tuesday. The company has a market capitalization of $9.88 billion, a PE ratio of 21.38, a P/E/G ratio of 3.54 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.13. The firm has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $46.05.
OGE Energy (NYSE:OGE – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $752.60 million during the quarter, compared to the consensus estimate 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 was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.
OGE Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy’s payout ratio is currently 75.89%.
Insider Buying and Selling at OGE Energy
In other news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.
OGE Energy 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.
Read More
- Five stocks we like better than OGE Energy
- 3 AI Stocks With Moats That Could Outlast Summer Volatility
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
- RH’s Strong Q1 Still Leaves Investors With One Big Question
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.
