SG Americas Securities LLC Increases Position in OGE Energy Corporation $OGE

Key Points

• SG Americas Securities LLC boosted its OGE Energy stake by 17.6% in the first quarter, buying 28,606 additional shares and bringing its holdings to 191,602 shares worth about $9.19 million.
• OGE Energy reported quarterly earnings of $0.24 per share, matching analyst expectations, while revenue came in at $752.6 million, above estimates.
• The company declared a quarterly dividend of $0.425 per share, implying an annualized yield of about 3.4%; meanwhile, analysts currently have a consensus Hold rating with an average target price of $49.20.

SG Americas Securities LLC increased its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 17.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 191,602 shares of the utilities provider's stock after purchasing an additional 28,606 shares during the quarter. SG Americas Securities LLC owned 0.09% of OGE Energy worth $9,189,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Mirabella Financial Services LLP lifted its position in shares of OGE Energy by 180.1% during the 3rd quarter. Mirabella Financial Services LLP now owns 50,313 shares of the utilities provider's stock valued at $2,324,000 after buying an additional 32,352 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in OGE Energy in the 3rd quarter worth $1,701,000. JPMorgan Chase & Co. raised its position in OGE Energy by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 1,092,661 shares of the utilities provider's stock worth $50,557,000 after acquiring an additional 219,413 shares during the period. Oak Thistle LLC raised its position in OGE Energy by 368.0% during the fourth quarter. Oak Thistle LLC now owns 54,337 shares of the utilities provider's stock worth $2,320,000 after acquiring an additional 42,726 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in OGE Energy by 915.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider's stock valued at $14,017,000 after purchasing an additional 295,932 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on OGE shares. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research note on Friday, March 20th. They set an "overweight" rating and a $52.00 target price for the company. Wells Fargo & Company raised their price target on shares of OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. LADENBURG THALM/SH SH lifted their price objective on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Wall Street Zen lowered OGE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Finally, Morgan Stanley began coverage on OGE Energy in a report on Wednesday. They set an "equal weight" rating and a $50.00 target price for the company. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $49.20.

OGE Energy Price Performance

Shares of NYSE OGE opened at $49.52 on Friday. The firm has a 50-day simple moving average of $47.59 and a 200-day simple moving average of $46.25. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 3.67 and a beta of 0.53. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. 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 posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate 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 earnings per share. The company's revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts predict that OGE Energy Corporation will post 2.43 earnings per share 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. Stockholders of record on Monday, July 6th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy's payout ratio is currently 75.89%.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of the company'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 value of $352,339.65. Following the completion of the sale, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This represents 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 available at this link. 0.57% of the stock is owned by company 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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