XTX Topco Ltd Acquires Shares of 49,553 OGE Energy Corporation (NYSE:OGE)

Key Points

• XTX Topco Ltd has invested approximately $2.28 million in OGE Energy Corporation, acquiring 49,553 shares of the utility provider.
• OGE Energy reported a quarterly earnings per share (EPS) of $0.31, exceeding the expected $0.22, with revenue increasing by 25.3% year-over-year.
• The company declared a quarterly dividend of $0.4213 per share, yielding 3.75%, with a payout ratio of 69.42%.

XTX Topco Ltd purchased a new position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 49,553 shares of the utilities provider's stock, valued at approximately $2,277,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OGE. LPL Financial LLC raised its stake in OGE Energy by 4.3% during the 4th quarter. LPL Financial LLC now owns 201,539 shares of the utilities provider's stock worth $8,313,000 after acquiring an additional 8,293 shares in the last quarter. Norges Bank acquired a new stake in OGE Energy during the 4th quarter worth $68,876,000. Pictet Asset Management Holding SA raised its stake in OGE Energy by 12.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 33,029 shares of the utilities provider's stock worth $1,362,000 after acquiring an additional 3,559 shares in the last quarter. California Public Employees Retirement System raised its stake in OGE Energy by 1.6% during the 4th quarter. California Public Employees Retirement System now owns 958,378 shares of the utilities provider's stock worth $39,533,000 after acquiring an additional 15,124 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in OGE Energy by 37.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,088 shares of the utilities provider's stock valued at $787,000 after purchasing an additional 5,182 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, the vice president owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the sale, the insider directly owned 72,548 shares in the company, valued at $3,303,835.92. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OGE has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Finally, Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Stock Performance

Shares of NYSE OGE traded down $0.08 during midday trading on Friday, reaching $45.35. 1,104,862 shares of the company were exchanged, compared to its average volume of 1,092,059. The company has a current ratio of 0.78, a quick ratio of 0.47 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 1 year low of $38.42 and a 1 year high of $46.91. The stock has a fifty day simple moving average of $44.35 and a 200 day simple moving average of $44.22. The stock has a market cap of $9.13 billion, a P/E ratio of 18.58, a PEG ratio of 3.16 and a beta of 0.57.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%. The company had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. During the same period in the prior year, the business earned $0.51 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, July 7th. OGE Energy's payout ratio is currently 68.85%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.