Aventail Capital Group LP Cuts Stock Holdings in OGE Energy Corporation $OGE

Key Points

• Aventail Capital Group LP cut its OGE Energy stake by 42.2% in the fourth quarter, though it still held about 499,947 shares valued at roughly $21.35 million.
• OGE Energy reported Q1 earnings of $0.24 per share, matching analyst estimates, while revenue came in at $752.6 million, above expectations; analysts currently have an average Hold rating with a $49.11 price target.
• The company announced a quarterly dividend of $0.425 per share, implying an annualized payout of $1.70 and a 3.6% yield; insider William H. Sultemeier also sold shares in May.

Aventail Capital Group LP decreased its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 42.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 499,947 shares of the utilities provider's stock after selling 364,641 shares during the period. OGE Energy comprises about 1.2% of Aventail Capital Group LP's holdings, making the stock its 22nd largest position. Aventail Capital Group LP owned approximately 0.25% of OGE Energy worth $21,348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Quest 10 Wealth Builders Inc. boosted its position in OGE Energy by 618.3% in 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 during the last quarter. State of Wyoming purchased a new position in OGE Energy in the second quarter worth $34,000. Caitong International Asset Management Co. Ltd boosted its position in 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. Clearstead Advisors LLC boosted its position in OGE Energy by 96.2% in 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 last quarter. Finally, Sandia Investment Management LP purchased a new position in OGE Energy in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analysts Set New Price Targets

OGE has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. LADENBURG THALM/SH SH boosted their price objective on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings raised OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Barclays boosted their target price on OGE Energy from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $49.11.

OGE Energy Stock Performance

NYSE:OGE opened at $47.37 on Thursday. 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 52-week low of $41.69 and a 52-week high of $50.13. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.55 and a beta of 0.53. The business's fifty day moving average is $47.71 and its 200 day moving average is $46.07.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. Research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy's dividend payout ratio is presently 75.89%.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 74,497 shares in the company, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company's stock.

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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