Seven Grand Managers LLC purchased a new stake in shares of OGE Energy Corporation (NYSE:OGE – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 150,000 shares of the utilities provider’s stock, valued at approximately $6,405,000.
A number of other large investors have also recently modified their holdings of OGE. Millennium Management LLC boosted its position 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 during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of OGE Energy by 54.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after acquiring an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of OGE Energy by 4.3% during 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 valued at $25,768,000 after acquiring an additional 23,051 shares during the last quarter. Focus Partners Wealth boosted its position in shares of OGE Energy by 7.5% during the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after acquiring an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of OGE Energy by 3.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.
OGE Energy Stock Performance
NYSE:OGE opened at $48.16 on Thursday. The business has a 50 day moving average of $47.86 and a 200 day moving average of $45.82. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 3.59 and a beta of 0.55. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40.
OGE Energy Announces Dividend
The company 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 $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.5%. OGE Energy’s payout ratio is presently 75.89%.
Analyst Upgrades and Downgrades
OGE has been the subject of a number of research analyst reports. Mizuho set a $49.00 price target on OGE Energy in a research report on Thursday, February 19th. Wells Fargo & Company lifted their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Wall Street Zen downgraded OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, LADENBURG THALM/SH SH boosted their target price on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.11.
Read Our Latest Stock Analysis on OGE Energy
Insiders Place Their Bets
In related news, insider William H. Sultemeier sold 7,345 shares of the business’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 value of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by insiders.
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.
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