Inspire Trust Co. N.A. Buys 22,000 Shares of OGE Energy Corporation $OGE

Key Points

• Inspire Trust Co. N.A. boosted its OGE Energy stake by 19% in the fourth quarter, buying 22,000 more shares and bringing its total holdings to 138,000 shares worth about $5.9 million.
• OGE Energy received mixed but mostly neutral analyst sentiment, with a consensus rating of “Hold” and an average price target of $49.11, even as several firms recently raised their targets or ratings.
• The utility posted solid quarterly results and a dividend, with earnings matching estimates, revenue topping expectations, and a newly announced quarterly dividend of $0.425 per share, implying a 3.6% yield.

Inspire Trust Co. N.A. increased its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,000 shares of the utilities provider's stock after acquiring an additional 22,000 shares during the quarter. Inspire Trust Co. N.A. owned approximately 0.07% of OGE Energy worth $5,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OGE. Millennium Management LLC lifted its holdings in OGE Energy by 1,160.8% in the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock worth $4,365,000 after buying an additional 87,433 shares during the period. Goldman Sachs Group Inc. lifted its holdings in OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock worth $47,966,000 after buying an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in OGE Energy by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider's stock worth $25,768,000 after buying an additional 23,051 shares during the period. Focus Partners Wealth lifted its holdings in OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider's stock worth $420,000 after buying an additional 637 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider's stock worth $382,000 after buying an additional 321 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OGE has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. 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. Barclays raised 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. LADENBURG THALM/SH SH raised 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. Finally, JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research report on Friday, March 20th. They issued an "overweight" rating and a $52.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, OGE Energy currently has a consensus rating of "Hold" and an average target price of $49.11.

OGE Energy Trading Down 1.7%

OGE opened at $47.34 on Friday. The stock has a market cap of $9.77 billion, a PE ratio of 21.14, a PEG ratio of 3.57 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average of $47.85 and a 200-day moving average of $45.84. 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 released its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The company 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 firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities research analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy's dividend payout ratio (DPR) is presently 75.89%.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the firm'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 transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by insiders.

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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