Entropy Technologies LP Increases Holdings in OGE Energy Corporation $OGE

Key Points

• Entropy Technologies LP boosted its OGE Energy stake by 92.9% in the fourth quarter, ending with 72,101 shares valued at about $3.08 million.
• Wall Street sentiment on OGE remains mixed, with analysts assigning a consensus “Hold” rating and an average price target of $49.11, though several firms recently raised their targets.
• OGE Energy reported quarterly EPS of $0.24, matching estimates, and announced a $0.425 quarterly dividend payable July 31, implying a 3.6% yield.

Entropy Technologies LP lifted its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 92.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,101 shares of the utilities provider's stock after purchasing an additional 34,725 shares during the quarter. Entropy Technologies LP's holdings in OGE Energy were worth $3,079,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in OGE Energy by 49.4% during the third 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 in the last quarter. State of Wyoming purchased a new position in OGE Energy during the second quarter valued at approximately $34,000. Quest 10 Wealth Builders Inc. raised its position in OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 674 shares in the last quarter. Clearstead Advisors LLC raised its position in OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 432 shares in the last quarter. Finally, Arax Advisory Partners purchased a new position in OGE Energy during the fourth quarter valued at approximately $53,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OGE. LADENBURG THALM/SH SH lifted their price target on OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Mizuho set a $49.00 price target on OGE Energy in a research report on Thursday, February 19th. Barclays lifted their price target on OGE Energy from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company lifted their price target on 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 equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $49.11.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly 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 filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by company insiders.

OGE Energy Stock Down 0.0%

OGE Energy stock opened at $47.78 on Monday. The stock has a market capitalization of $9.86 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 3.54 and a beta of 0.53. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.13. The business has a 50 day simple moving average of $47.77 and a 200-day simple moving average of $46.02. 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 (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The business had revenue of $752.60 million during the quarter, compared to analysts' expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The business's revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. On average, analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

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 given a $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. OGE Energy's payout ratio is 75.89%.

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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