Pictet Asset Management Holding SA Trims Stake in OGE Energy Corporation $OGE

Key Points

• Pictet Asset Management Holding SA cut its OGE Energy stake by 89.2% in the first quarter, selling 292,815 shares and leaving it with 35,445 shares valued at about $1.7 million.
• OGE Energy reported Q1 earnings of $0.24 per share, matching analyst estimates, while revenue came in at $752.6 million, well above expectations.
• The company announced a quarterly dividend of $0.425 per share, implying an annualized yield of about 3.4%; meanwhile, analysts currently rate the stock a Hold with a consensus target price of $49.20.

Pictet Asset Management Holding SA trimmed its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 89.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,445 shares of the utilities provider's stock after selling 292,815 shares during the quarter. Pictet Asset Management Holding SA's holdings in OGE Energy were worth $1,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC lifted 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 acquiring an additional 739 shares during the period. Caitong International Asset Management Co. Ltd increased its position in OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 255 shares during the period. State of Wyoming bought a new stake in shares of OGE Energy in the 2nd quarter valued at about $34,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 674 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of OGE Energy by 96.2% in the 4th quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider's stock worth $38,000 after purchasing an additional 432 shares during the period. Institutional investors 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 company's 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 transaction, the insider directly owned 74,497 shares of the company's stock, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by company insiders.

OGE Energy Trading Down 0.1%

NYSE OGE opened at $49.39 on Monday. 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 firm has a market cap of $10.19 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 3.66 and a beta of 0.53. The company has a 50 day moving average price of $47.76 and a 200 day moving average price of $46.49. 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 announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period last year, the firm earned $0.31 earnings per share. OGE Energy's revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that OGE Energy Corporation will post 2.43 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy's payout ratio is 75.89%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OGE. Barclays increased their price objective on shares of OGE Energy from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Morgan Stanley assumed coverage on OGE Energy in a report on Wednesday, June 24th. They set an "equal weight" rating and a $50.00 target price for the company. LADENBURG THALM/SH SH increased their target price on OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Wells Fargo & Company lifted their price target on OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $49.20.

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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