OGE Energy Corporation $OGE Shares Acquired by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC boosted its OGE Energy stake by 85.8% in the fourth quarter, ending with 2.22 million shares worth about $94.6 million. Institutional investors now own 71.84% of OGE’s stock.
• OGE Energy reported quarterly EPS of $0.24, matching analyst expectations, while revenue came in at $752.6 million, well above forecasts. The company also announced a quarterly dividend of $0.425 per share, implying an annualized yield of 3.7%.
• Wall Street sentiment is mixed: analysts currently rate OGE Energy a “Hold” on average, with a consensus price target of $49.11. Shares recently opened at $45.73, and insider William H. Sultemeier sold 7,345 shares in May.

Cbre Investment Management Listed Real Assets LLC lifted its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 85.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,215,572 shares of the utilities provider's stock after buying an additional 1,022,863 shares during the period. OGE Energy makes up approximately 1.4% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 29th largest position. Cbre Investment Management Listed Real Assets LLC owned about 1.10% of OGE Energy worth $94,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Reaves W H & Co. Inc. increased its holdings in shares of OGE Energy by 45.6% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,944,201 shares of the utilities provider's stock worth $83,017,000 after buying an additional 608,454 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in OGE Energy by 5.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,278,994 shares of the utilities provider's stock valued at $54,613,000 after purchasing an additional 67,271 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in OGE Energy in the 4th quarter valued at approximately $203,000. Norges Bank acquired a new stake in OGE Energy in the 4th quarter valued at approximately $119,028,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in OGE Energy in the 4th quarter valued at approximately $180,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Insiders Place Their Bets

In related news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction on 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 directly owned 74,497 shares of the company's stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OGE has been the subject of several research reports. Mizuho set a $49.00 target price on shares of OGE Energy in a report on Thursday, February 19th. Wells Fargo & Company lifted their target price on shares of OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Barclays lifted their target price on shares of OGE Energy from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Monday, April 20th. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. initiated coverage on shares of OGE Energy in a report on Friday, March 20th. They issued an "overweight" rating and a $52.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $49.11.

OGE Energy Stock Performance

NYSE:OGE opened at $45.73 on Tuesday. The company has a fifty day simple moving average of $47.80 and a two-hundred day simple moving average of $45.86. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth 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. 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 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. As a group, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share 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 given a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.7%. OGE Energy's payout ratio is 75.89%.

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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