Cohen & Steers Inc. Takes $68.46 Million Position in OGE Energy Corporation $OGE

Key Points

• Cohen & Steers Inc. disclosed a new position in OGE Energy, buying 1.6 million shares valued at about $68.46 million and holding 0.80% of the company.
• OGE Energy reported Q1 earnings that matched estimates at $0.24 per share, while revenue came in above expectations at $752.6 million; analysts now expect full-year EPS of 2.42.
• The utility declared a quarterly dividend of $0.425 per share, implying a 3.6% annual yield, even as an insider recently sold shares and analysts maintain a consensus Hold rating with a $49.11 price target.

Cohen & Steers Inc. purchased a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,603,279 shares of the utilities provider's stock, valued at approximately $68,460,000. Cohen & Steers Inc. owned 0.80% of OGE Energy as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in OGE. Quest 10 Wealth Builders Inc. raised its position in shares of OGE Energy by 618.3% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $33,000 after buying an additional 674 shares during the period. State of Wyoming purchased a new stake in OGE Energy in the second quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised 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 valued at $36,000 after purchasing an additional 255 shares during the period. Clearstead Advisors LLC lifted its stake in 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in OGE Energy by 86.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,464 shares of the utilities provider's stock worth $67,000 after purchasing an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on OGE shares. Wells Fargo & Company upped their price target 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. LADENBURG THALM/SH SH upped their price target on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Mizuho set a $49.00 price target on OGE Energy in a research note on Thursday, February 19th. Barclays upped their price target on OGE Energy from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Finally, Weiss Ratings upgraded OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, OGE Energy has a consensus rating of "Hold" and a consensus price target of $49.11.

OGE Energy Stock Performance

NYSE:OGE opened at $47.78 on Friday. The company has a fifty day simple moving average of $47.77 and a two-hundred day simple moving average of $46.02. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.51 and a beta of 0.53. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.13.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

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

Insider Activity at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the business'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. The trade was 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 the SEC website. 0.57% of the stock is currently owned by company insiders.

OGE Energy 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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