MidFirst Bank Purchases Shares of 25,506 OGE Energy Corporation $OGE

Key Points

• MidFirst Bank initiated a new position in OGE Energy during the fourth quarter, buying 25,506 shares valued at about $1.09 million.
• Institutional ownership remains high, with the article noting that 71.84% of OGE Energy shares are held by institutional investors and hedge funds.
• OGE Energy reported quarterly earnings of $0.24 per share, matching estimates, and also announced a quarterly dividend of $0.425 per share, equal to a 3.6% yield.

MidFirst Bank bought a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,506 shares of the utilities provider's stock, valued at approximately $1,089,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. Orion Porfolio Solutions LLC boosted its position in OGE Energy by 3.3% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider's stock worth $323,000 after purchasing an additional 222 shares during the period. Bfsg LLC raised its position in OGE Energy by 2.3% in the fourth quarter. Bfsg LLC now owns 10,280 shares of the utilities provider's stock valued at $439,000 after purchasing an additional 232 shares during the period. Blair William & Co. IL raised its position in OGE Energy by 0.9% in the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider's stock valued at $1,270,000 after purchasing an additional 234 shares during the period. Savvy Advisors Inc. lifted its stake in shares of OGE Energy by 1.4% during the fourth quarter. Savvy Advisors Inc. now owns 18,812 shares of the utilities provider's stock worth $803,000 after purchasing an additional 251 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after purchasing an additional 255 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of OGE opened at $47.26 on Friday. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 3.50 and a beta of 0.53. 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's 50 day moving average is $47.63 and its two-hundred day moving average is $46.09. 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 quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share 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 business's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. Analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy's dividend payout ratio (DPR) is currently 75.89%.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent research reports. Barclays increased their target price on OGE Energy from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Wells Fargo & Company upped their price target on OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. initiated coverage on shares of OGE Energy in a research note on Friday, March 20th. They set an "overweight" rating and a $52.00 price objective on the stock. Finally, LADENBURG THALM/SH SH boosted 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. Four investment 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 presently has a consensus rating of "Hold" and a consensus target price of $49.11.

Insiders Place Their Bets

In other news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares of the company's stock, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.

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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