Objective Capital Management LLC bought a new stake in OGE Energy Corporation (NYSE:OGE – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,420 shares of the utilities provider’s stock, valued at approximately $500,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of OGE. Millennium Management LLC boosted its holdings in shares of OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after acquiring an additional 87,433 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 in the last quarter. Focus Partners Wealth raised its position in OGE Energy by 7.5% in the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Wall Street Zen downgraded OGE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. began coverage on shares of OGE Energy in a report on Friday, March 20th. They set an “overweight” rating and a $52.00 target price on the stock. Barclays upped their price target on shares of OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Finally, Morgan Stanley started coverage on shares of OGE Energy in a research note on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price target for the company. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.20.
Insider Buying and Selling
In related news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.
OGE Energy Price Performance
OGE stock opened at $48.99 on Tuesday. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.60 and a beta of 0.53. 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 Corporation has a 12-month low of $41.69 and a 12-month high of $50.13. The company’s fifty day simple moving average is $47.87 and its 200 day simple moving average is $46.73.
OGE Energy (NYSE:OGE – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period last year, the business posted $0.31 EPS. The business’s revenue was up .7% compared to the same quarter last year. On average, analysts expect that OGE Energy Corporation will post 2.43 earnings per share for the current year.
OGE Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $0.425 per share. The ex-dividend date is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.5%. OGE Energy’s dividend payout ratio is presently 75.89%.
About OGE Energy
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.
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