Seven Grand Managers LLC Takes $6.41 Million Position in OGE Energy Corporation $OGE

Key Points

• Seven Grand Managers LLC disclosed a new stake in OGE Energy, buying 150,000 shares valued at about $6.41 million in the fourth quarter. The position represented roughly 0.07% of the company.
• OGE Energy reported Q1 EPS of $0.24, matching analyst expectations, while revenue of $752.6 million came in well above estimates. The stock was down slightly and recently traded near $48.16.
• The company announced a quarterly dividend of $0.425 per share, or $1.70 annually, for a yield of about 3.5%. Analyst sentiment is mixed, with a consensus rating of Hold and a consensus target price of $49.11.

Seven Grand Managers LLC bought a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 150,000 shares of the utilities provider's stock, valued at approximately $6,405,000. Seven Grand Managers LLC owned about 0.07% of OGE Energy at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OGE. Orion Porfolio Solutions LLC increased its holdings in OGE Energy by 3.3% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider's stock worth $323,000 after acquiring an additional 222 shares during the last quarter. Bfsg LLC increased its holdings in OGE Energy by 2.3% in the 4th quarter. Bfsg LLC now owns 10,280 shares of the utilities provider's stock worth $439,000 after acquiring an additional 232 shares during the last quarter. Blair William & Co. IL increased its holdings in OGE Energy by 0.9% in the 3rd quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider's stock worth $1,270,000 after acquiring an additional 234 shares during the last quarter. Savvy Advisors Inc. increased its holdings in OGE Energy by 1.4% in the 4th quarter. Savvy Advisors Inc. now owns 18,812 shares of the utilities provider's stock worth $803,000 after acquiring an additional 251 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after acquiring an additional 255 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Down 0.5%

OGE stock opened at $48.16 on Thursday. 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 capitalization of $9.94 billion, a PE ratio of 21.50, a PEG ratio of 3.59 and a beta of 0.55. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.13. The stock has a 50-day simple moving average of $47.86 and a two-hundred day simple moving average of $45.82.

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

OGE Energy Announces Dividend

The business also recently announced 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. This represents a $1.70 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy's payout ratio is presently 75.89%.

Analyst Upgrades and Downgrades

OGE has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on OGE Energy in a report on Friday, March 20th. They issued an "overweight" rating and a $52.00 price objective for the company. Wall Street Zen lowered OGE Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. Barclays lifted 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. Weiss Ratings raised OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Finally, Wells Fargo & Company lifted their price objective on OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, OGE Energy currently has a consensus rating of "Hold" and a consensus target price of $49.11.

Insiders Place Their Bets

In other OGE Energy 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 completion of the transaction, the insider owned 74,497 shares of the company's stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by insiders.

OGE Energy 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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