New Age Alpha Advisors LLC Has $7.96 Million Stake in OGE Energy Corporation (NYSE:OGE)

Key Points

• New Age Alpha Advisors LLC increased its stake in OGE Energy Corporation by 30.6%, owning approximately $7.96 million worth of shares after purchasing an additional 40,576 shares in the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for OGE Energy, with an average price target of $46.80, reflecting recent upgrades from firms like Argus and Barclays.
• OGE Energy recently announced a quarterly dividend of $0.4213 per share, with a dividend yield of 3.7%, while reporting quarterly revenue of $741.60 million, surpassing estimates.

New Age Alpha Advisors LLC raised its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 30.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,276 shares of the utilities provider's stock after purchasing an additional 40,576 shares during the period. New Age Alpha Advisors LLC owned approximately 0.09% of OGE Energy worth $7,964,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of OGE Energy in the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new position in OGE Energy during the first quarter worth $31,000. Bessemer Group Inc. boosted its holdings in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after purchasing an additional 361 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in OGE Energy during the first quarter worth $36,000. Finally, Clearstead Trust LLC acquired a new position in OGE Energy during the first quarter worth $42,000. Institutional investors own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OGE shares. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company increased their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a report on Friday, April 11th. Finally, Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

Insider Buying and Selling at OGE Energy

In other news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president directly owned 43,932 shares of the company's stock, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.

OGE Energy Stock Performance

NYSE OGE opened at $45.91 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The firm's fifty day moving average price is $44.38 and its two-hundred day moving average price is $44.28. OGE Energy Corporation has a 1 year low of $38.42 and a 1 year high of $46.91. The firm has a market capitalization of $9.25 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%. The firm had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same period last year, the company posted $0.51 earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. As a group, research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a $0.4213 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.7%. OGE Energy's dividend payout ratio is presently 68.85%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.

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