Geode Capital Management LLC Raises Position in OGE Energy Corporation $OGE

Key Points

• Geode Capital Management increased its OGE Energy stake by 5.6% in the fourth quarter, adding 204,510 shares to bring its total holding to 3.83 million shares worth about $163.4 million.
• OGE Energy reported quarterly earnings of $0.24 per share, matching expectations, while revenue came in well above forecasts at $752.6 million. Analysts currently have a consensus rating of Hold with an average price target of $49.11.
• The company declared a quarterly dividend of $0.425 per share, equal to an annualized yield of 3.7%. Meanwhile, insider William H. Sultemeier sold 7,345 shares, reducing his position by 8.97%.

Geode Capital Management LLC raised its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,825,542 shares of the utilities provider's stock after buying an additional 204,510 shares during the period. Geode Capital Management LLC owned approximately 1.90% of OGE Energy worth $163,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its position in OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock valued at $36,000 after buying an additional 255 shares during the period. State of Wyoming purchased a new position in OGE Energy in the 2nd quarter valued at approximately $34,000. Quest 10 Wealth Builders Inc. boosted its position in OGE Energy by 618.3% in 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. Clearstead Advisors LLC boosted its position in OGE Energy by 96.2% in the 4th quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider's stock valued at $38,000 after buying an additional 432 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in OGE Energy by 86.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,464 shares of the utilities provider's stock valued at $67,000 after buying an additional 677 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction 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 sale, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

OGE Energy Price Performance

OGE Energy stock opened at $46.46 on Thursday. The stock has a market cap of $9.59 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 3.45 and a beta of 0.53. The company has a fifty day simple moving average of $47.81 and a 200-day simple moving average of $45.88. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.13. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09.

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, hitting the consensus estimate 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 net margin of 14.03% and a return on equity of 9.47%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. Equities analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, July 6th. OGE Energy's dividend payout ratio (DPR) is currently 75.89%.

Analysts Set New Price Targets

Several brokerages have commented on OGE. LADENBURG THALM/SH SH raised their price target on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Barclays lifted their price objective 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. Mizuho set a $49.00 price objective on shares of OGE Energy in a research report on Thursday, February 19th. Weiss Ratings raised 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 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, the stock presently has an average 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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