Swiss National Bank increased its holdings in shares of OGE Energy Corporation (NYSE:OGE – Free Report) by 2.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 407,900 shares of the utilities provider’s stock after purchasing an additional 10,800 shares during the period. Swiss National Bank’s holdings in OGE Energy were worth $19,563,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in OGE Energy in the 4th quarter valued at approximately $119,028,000. Morgan Stanley increased its position in shares of OGE Energy by 103.2% during the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock worth $197,625,000 after acquiring an additional 2,350,574 shares during the period. Cohen & Steers Inc. acquired a new stake in shares of OGE Energy in the fourth quarter valued at $68,460,000. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of OGE Energy by 85.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider’s stock valued at $94,605,000 after acquiring an additional 1,022,863 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new position in OGE Energy in the fourth quarter valued at $33,929,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
OGE has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. BMO Capital Markets reduced their price target on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday. Barclays lifted their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Morgan Stanley set a $51.00 target price on shares of OGE Energy in a research note on Wednesday. Finally, Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.80.
OGE Energy Trading Up 0.6%
OGE opened at $49.92 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.32. The company has a market cap of $10.30 billion, a P/E ratio of 22.29, a PEG ratio of 3.67 and a beta of 0.53. The business’s 50-day simple moving average is $48.18 and its 200-day simple moving average is $47.09.
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. The firm had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, equities research analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.
OGE Energy Dividend Announcement
The business also recently declared 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 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 payout ratio is 75.89%.
Insiders Place Their Bets
In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by company insiders.
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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