ProShare Advisors LLC reduced its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,980 shares of the utilities provider's stock after selling 67,490 shares during the quarter. ProShare Advisors LLC owned approximately 0.35% of OGE Energy worth $30,402,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of OGE. Millennium Management LLC grew its holdings in shares of OGE Energy by 1,160.8% during the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock worth $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in OGE Energy by 54.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock worth $47,966,000 after buying an additional 367,960 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in OGE Energy by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider's stock worth $25,768,000 after acquiring an additional 23,051 shares during the last quarter. Focus Partners Wealth grew its holdings 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 acquiring an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider's stock valued at $382,000 after acquiring an additional 321 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Mizuho set a $49.00 target price on shares of OGE Energy in a research report on Thursday, February 19th. LADENBURG THALM/SH SH raised their price target 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. Barclays upped their price objective on OGE Energy from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, April 20th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of OGE Energy in a research report on Friday, January 23rd. Finally, Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $49.11.
Get Our Latest Stock Analysis on OGE
OGE Energy Stock Down 0.4%
Shares of NYSE OGE opened at $47.86 on Thursday. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.13. The firm's 50-day moving average is $47.81 and its 200-day moving average is $45.67. 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 firm has a market capitalization of $9.88 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 3.56 and a beta of 0.55.
OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting analysts' consensus estimates of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period in the previous year, the firm posted $0.31 earnings per share. OGE Energy's revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.
OGE Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid 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 dividend yield of 3.6%. OGE Energy's dividend payout ratio is 75.89%.
Insiders Place Their Bets
In other news, CAO Sarah R. Stafford sold 6,130 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $47.77, for a total value of $292,830.10. Following the transaction, the chief accounting officer directly owned 28,559 shares in the company, valued at $1,364,263.43. This trade represents a 17.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lyle G. Ganske acquired 10,420 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $47.99 per share, with a total value of $500,055.80. Following the acquisition, the director directly owned 10,420 shares of the company's stock, valued at $500,055.80. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.57% of the company's stock.
About OGE Energy
(
Free Report)
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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