Legal & General Group Plc Sells 104,479 Shares of OGE Energy Corporation $OGE

Key Points

• Legal & General Group Plc cut its stake in OGE Energy by 9.5% in the fourth quarter, selling 104,479 shares and ending with 992,209 shares valued at about $42.4 million.
• OGE Energy reported quarterly EPS of $0.24, matching estimates, while revenue came in at $752.6 million, above expectations. Analysts currently have a consensus rating of Hold with an average target price of $49.11.
• The company declared a quarterly dividend of $0.425 per share, or $1.70 annualized, implying a 3.6% yield. Insider William H. Sultemeier also sold 7,345 shares in May.

Legal & General Group Plc reduced its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 992,209 shares of the utilities provider's stock after selling 104,479 shares during the quarter. Legal & General Group Plc owned about 0.49% of OGE Energy worth $42,367,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of OGE Energy by 1,160.8% during the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock worth $4,365,000 after purchasing an additional 87,433 shares during the period. Goldman Sachs Group Inc. raised its position in shares of OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock worth $47,966,000 after purchasing an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of OGE Energy by 4.3% during the first 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 purchasing an additional 23,051 shares during the period. Focus Partners Wealth raised its position in shares of OGE Energy by 7.5% during the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider's stock worth $420,000 after purchasing an additional 637 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider's stock worth $382,000 after purchasing an additional 321 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OGE has been the topic of a number of research reports. Mizuho set a $49.00 target price on OGE Energy in a research report on Thursday, February 19th. Wall Street Zen lowered OGE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Barclays upped their target price on 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 raised OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. initiated coverage on OGE Energy in a research report on Friday, March 20th. They set an "overweight" rating and a $52.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, OGE Energy has a consensus rating of "Hold" and an average target price of $49.11.

OGE Energy Trading Down 0.4%

Shares of OGE Energy stock opened at $47.17 on Friday. The stock has a fifty day simple moving average of $47.84 and a 200 day simple moving average of $45.85. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.13. The company has a market capitalization of $9.73 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 3.50 and a beta of 0.55. 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 announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The business had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. OGE Energy's revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy's dividend payout ratio is 75.89%.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the company's stock in a transaction 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 represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company 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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