Y Intercept Hong Kong Ltd Cuts Stake in OGE Energy Corporation $OGE

Key Points

• Y Intercept Hong Kong Ltd reduced its OGE Energy stake by 23.9% in the first quarter, selling 24,784 shares and ending with 79,004 shares valued at about $3.79 million.
• OGE Energy’s latest earnings matched analysts’ expectations at $0.24 EPS, while revenue came in at $752.6 million, above the consensus estimate.
• The company also declared a quarterly dividend of $0.425 per share, implying an annualized yield of 3.4%, even as analysts’ views remain mixed with an average rating of “Hold.”

Y Intercept Hong Kong Ltd cut its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 23.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,004 shares of the utilities provider's stock after selling 24,784 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in OGE Energy were worth $3,789,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OGE. Vanguard Group Inc. increased its position in OGE Energy by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider's stock worth $918,079,000 after purchasing an additional 304,080 shares during the last quarter. State Street Corp raised its holdings in OGE Energy by 1.8% during the 4th quarter. State Street Corp now owns 6,713,937 shares of the utilities provider's stock worth $286,685,000 after buying an additional 117,977 shares during the period. Boston Partners raised its holdings in OGE Energy by 0.5% during the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider's stock worth $290,530,000 after acquiring an additional 31,138 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of OGE Energy by 8.3% in the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock valued at $266,473,000 after purchasing an additional 479,278 shares during the period. Finally, Morgan Stanley increased its position in OGE Energy by 103.2% during the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock worth $197,625,000 after acquiring an additional 2,350,574 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. LADENBURG THALM/SH SH increased their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. began coverage on OGE Energy in a research note on Friday, March 20th. They set an "overweight" rating and a $52.00 target price for the company. Weiss Ratings raised OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Wall Street Zen cut OGE Energy from a "hold" rating to a "sell" rating in a research report on Sunday, June 21st. Finally, Morgan Stanley assumed coverage on shares of OGE Energy in a research report on Wednesday, June 24th. They issued an "equal weight" rating and a $50.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, OGE Energy has an average rating of "Hold" and an average price target of $49.20.

OGE Energy Stock Performance

NYSE:OGE traded up $1.17 during trading hours on Tuesday, reaching $49.43. The company had a trading volume of 212,232 shares, compared to its average volume of 1,569,118. The company has a current ratio of 0.66, a quick ratio of 0.40 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. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.66 and a beta of 0.53. The firm's 50 day moving average price is $47.77 and its 200-day moving average price is $46.53.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $616.02 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The company's revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that OGE Energy Corporation will post 2.43 EPS for the current year.

OGE Energy Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy's dividend payout ratio (DPR) is currently 75.89%.

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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