OGE Energy Corporation $OGE Stake Increased by Resolution Capital Ltd

Key Points

• Resolution Capital increased its OGE Energy stake by 475.7% in the first quarter, acquiring 145,573 additional shares to hold 176,175 shares valued at approximately $8.45 million. Institutional investors collectively own 71.84% of the company.
• Analyst sentiment remains mixed, with OGE carrying an average “Hold” rating and an average price target of $49.80. Recent targets range from $47 to $51, while one research firm downgraded the stock to “Sell.”
• OGE reported quarterly earnings of $0.24 per share, in line with estimates, while revenue of $752.6 million exceeded expectations. The company declared a quarterly dividend of $0.425, equivalent to a 3.4% annualized yield.

Resolution Capital Ltd boosted its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 475.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,175 shares of the utilities provider's stock after acquiring an additional 145,573 shares during the period. Resolution Capital Ltd owned 0.09% of OGE Energy worth $8,449,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OGE. Root Financial Partners LLC increased its position in shares of OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock worth $29,000 after purchasing an additional 315 shares during the last quarter. Quest 10 Wealth Builders Inc. lifted its position in shares of OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock worth $33,000 after purchasing an additional 674 shares during the last quarter. State of Wyoming bought a new position in shares of OGE Energy during the second quarter worth about $34,000. Capital Advisors Ltd. LLC grew its stake in OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider's stock worth $36,000 after purchasing an additional 739 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in OGE Energy by 49.4% in 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.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction 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. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OGE has been the topic of several research reports. Weiss Ratings upgraded OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Morgan Stanley set a $51.00 target price on OGE Energy in a research report on Wednesday, July 22nd. Wall Street Zen downgraded OGE Energy from a "hold" rating to a "sell" rating in a report on Sunday, June 21st. BMO Capital Markets dropped their price target on OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Finally, LADENBURG THALM/SH SH raised their price objective on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $49.80.

OGE Energy Price Performance

OGE opened at $49.41 on Wednesday. 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 company's 50-day moving average price is $48.25 and its 200 day moving average price is $47.22. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.59. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 3.65 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The company had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.OGE Energy's quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, sell-side analysts expect that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Announces Dividend

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 issued a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.4%. OGE Energy's dividend payout ratio (DPR) is 75.89%.

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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