MQS Management LLC decreased its holdings in shares of OGE Energy Corporation (NYSE:OGE – Free Report) by 63.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,407 shares of the utilities provider’s stock after selling 12,608 shares during the period. MQS Management LLC’s holdings in OGE Energy were worth $355,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in OGE. Capital Advisors Ltd. LLC increased its stake in OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 739 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 255 shares during the last quarter. State of Wyoming purchased a new position in shares of OGE Energy during the second quarter worth about $34,000. Quest 10 Wealth Builders Inc. grew its holdings in shares of OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 674 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of OGE Energy by 177.2% in the first quarter. SJS Investment Consulting Inc. now owns 804 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 514 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy Stock Performance
NYSE:OGE opened at $48.27 on Thursday. The business has a 50 day moving average of $47.63 and a 200 day moving average of $46.40. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 3.60 and a beta of 0.53. 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 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.425 dividend. 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 3.5%. OGE Energy’s dividend payout ratio is 75.89%.
Insider Activity at OGE Energy
In related news, insider William H. Sultemeier sold 7,345 shares of the 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 transaction, the insider owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. 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. Wall Street Zen cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Wells Fargo & Company increased their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price objective on the stock. Finally, LADENBURG THALM/SH SH lifted their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.20.
Read Our Latest Stock Analysis on OGE Energy
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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