ExodusPoint Capital Management LP Has $62.37 Million Holdings in OGE Energy Corporation $OGE

Key Points

• ExodusPoint Capital Management increased its OGE Energy stake by 49.8% in the fourth quarter, bringing its holdings to 1,460,674 shares valued at about $62.37 million.
• OGE Energy reported quarterly EPS of $0.24, matching Wall Street expectations, while revenue came in at $752.6 million, above estimates. Analysts currently have a Hold consensus with a $49.11 price target.
• The company declared a quarterly dividend of $0.425 per share, or $1.70 annually, for a yield of about 3.6%. The payout will be made on July 31 to shareholders of record on July 6.

ExodusPoint Capital Management LP raised its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 49.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,460,674 shares of the utilities provider's stock after acquiring an additional 485,661 shares during the quarter. OGE Energy comprises approximately 0.5% of ExodusPoint Capital Management LP's investment portfolio, making the stock its 14th biggest holding. ExodusPoint Capital Management LP owned approximately 0.73% of OGE Energy worth $62,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Norges Bank acquired a new stake in OGE Energy in the 4th quarter valued at about $119,028,000. Morgan Stanley increased its position in OGE Energy by 103.2% in the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock valued at $197,625,000 after acquiring an additional 2,350,574 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in shares of OGE Energy during the 4th quarter worth approximately $68,460,000. Cbre Investment Management Listed Real Assets LLC grew its position in shares of OGE Energy by 85.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider's stock worth $94,605,000 after buying an additional 1,022,863 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new stake in shares of OGE Energy during the 4th quarter worth approximately $33,929,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Stock Down 0.2%

Shares of NYSE OGE opened at $47.83 on Wednesday. The stock has a market cap of $9.87 billion, a P/E ratio of 21.35, a P/E/G ratio of 3.55 and a beta of 0.53. The firm has a 50 day moving average price of $47.73 and a 200 day moving average price of $46.06. 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.

OGE Energy (NYSE:OGE - Get Free Report) last issued 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 firm had revenue of $752.60 million during the quarter, compared to analysts' expectations of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. Analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently disclosed 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 is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. OGE Energy's payout ratio is currently 75.89%.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

OGE has been the subject of several analyst reports. LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. initiated coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an "overweight" rating and a $52.00 price target for the company. Finally, Weiss Ratings upgraded shares of OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, OGE Energy has a consensus rating of "Hold" and a consensus price target of $49.11.

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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