OGE Energy Corporation $OGE Shares Purchased by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in OGE Energy by 5.8% in the first quarter, buying 25,306 additional shares and bringing its total holding to 458,665 shares worth about $22.0 million.
• OGE Energy reported quarterly earnings of $0.24 per share, matching analyst expectations, while revenue came in at $752.6 million, well above consensus estimates. Analysts currently rate the stock a Hold on average, with a price target of $49.30.
• The company announced a quarterly dividend of $0.425 per share, implying an annualized dividend of $1.70 and a yield of about 3.5%. The stock was also highlighted near its 52-week high, opening at $48.27 after a slight decline.

Principal Financial Group Inc. increased its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 458,665 shares of the utilities provider's stock after buying an additional 25,306 shares during the period. Principal Financial Group Inc. owned about 0.22% of OGE Energy worth $21,998,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of OGE Energy by 1,160.8% in the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock worth $4,365,000 after acquiring an additional 87,433 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock valued at $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 boosted its holdings in OGE Energy by 4.3% in 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 valued at $25,768,000 after purchasing an additional 23,051 shares during the period. Focus Partners Wealth grew its stake in OGE Energy by 7.5% during the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider's stock worth $420,000 after purchasing an additional 637 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in OGE Energy by 3.9% during the 2nd 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 in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. LADENBURG THALM/SH SH upped their price target on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Wells Fargo & Company lifted their price objective on OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Morgan Stanley assumed coverage on OGE Energy in a research report on Wednesday, June 24th. They set an "equal weight" rating and a $50.00 price objective for the company. Wall Street Zen lowered shares of OGE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Finally, Weiss Ratings raised shares of OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, OGE Energy currently has an average rating of "Hold" and an average price target of $49.30.

OGE Energy Stock Down 0.6%

Shares of NYSE:OGE opened at $48.27 on Wednesday. The firm has a 50 day simple moving average of $48.03 and a 200-day simple moving average of $46.98. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.26. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $9.96 billion, a PE ratio of 21.55, a P/E/G ratio of 3.59 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm had revenue of $752.60 million for the quarter, compared to the consensus estimate of $616.02 million. During the same period last year, the firm posted $0.31 EPS. The company's revenue was up .7% on a year-over-year basis. On average, equities analysts predict that OGE Energy Corporation will post 2.43 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.5%. OGE Energy's dividend payout ratio (DPR) is presently 75.89%.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company's stock.

OGE Energy Company 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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