Pictet Asset Management Holding SA lowered its stake in OGE Energy Corporation (NYSE:OGE – Free Report) by 89.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,445 shares of the utilities provider’s stock after selling 292,815 shares during the period. Pictet Asset Management Holding SA’s holdings in OGE Energy were worth $1,700,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Quest 10 Wealth Builders Inc. raised its stake in OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 674 shares during the last quarter. State of Wyoming purchased a new stake in OGE Energy during the 2nd quarter valued at about $34,000. Capital Advisors Ltd. LLC increased its holdings in shares of OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 739 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 255 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in shares of OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 432 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at OGE Energy
In related news, insider William H. Sultemeier sold 7,345 shares of the firm’s 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 sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.
OGE Energy Stock Down 0.1%
OGE Energy (NYSE:OGE – Get Free Report) last announced its quarterly 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. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The company had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period in the previous year, the company posted $0.31 earnings per share. OGE Energy’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts anticipate that OGE Energy Corporation will post 2.43 earnings per share for the current year.
OGE Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued 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 yield of 3.4%. OGE Energy’s dividend payout ratio is 75.89%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Morgan Stanley assumed coverage on shares of OGE Energy in a report on Wednesday, June 24th. They issued an “equal weight” rating and a $50.00 price target on the stock. LADENBURG THALM/SH SH lifted their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. assumed coverage on shares of OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective on the stock. Barclays increased their price objective on shares of OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Wells Fargo & Company boosted their target price on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Four investment 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 has a consensus rating of “Hold” and an average target price of $49.20.
Read Our Latest Research Report on OGE Energy
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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