Franklin Resources Inc. Increases Position in OGE Energy Corporation $OGE

Key Points

• Franklin Resources boosted its OGE Energy stake by 33.5% in the fourth quarter, ending with 2.31 million shares valued at about $98.7 million.
• Other institutional investors also added to OGE Energy positions, and hedge funds and other institutions now own about 71.84% of the utility's shares.
• OGE Energy reported quarterly earnings of $0.24 per share, matching estimates, and recently declared a $0.425 quarterly dividend yielding about 3.6%.

Franklin Resources Inc. increased its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 33.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,311,942 shares of the utilities provider's stock after purchasing an additional 579,606 shares during the quarter. Franklin Resources Inc. owned 1.15% of OGE Energy worth $98,720,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC increased its holdings in shares of OGE Energy by 11.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 25,874 shares of the utilities provider's stock valued at $1,105,000 after purchasing an additional 2,585 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of OGE Energy by 8.3% in the 4th quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock valued at $266,473,000 after purchasing an additional 479,278 shares in the last quarter. Syon Capital LLC increased its holdings in shares of OGE Energy by 26.2% in the 4th quarter. Syon Capital LLC now owns 6,834 shares of the utilities provider's stock valued at $292,000 after purchasing an additional 1,417 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of OGE Energy in the 4th quarter valued at about $179,000. Finally, Pinebridge Investments LLC purchased a new position in OGE Energy during the 4th quarter valued at about $4,479,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. LADENBURG THALM/SH SH lifted their target price 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 target price 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. Barclays lifted their target price on shares of OGE Energy from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. 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. Finally, Wall Street Zen cut shares of OGE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, OGE Energy currently has a consensus rating of "Hold" and an average target price of $49.11.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $47.75 on Thursday. The company has a market cap of $9.85 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 3.51 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 company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. The company has a 50-day simple moving average of $47.79 and a 200-day simple moving average of $45.98.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts' consensus estimates 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 period in the previous year, the firm posted $0.31 earnings per share. On average, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 3.6%. OGE Energy's payout ratio is 75.89%.

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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