Merewether Investment Management LP Purchases Shares of 1,078,061 OGE Energy Corp. (NYSE:OGE)

Merewether Investment Management LP bought a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,078,061 shares of the utilities provider's stock, valued at approximately $44,470,000. OGE Energy accounts for approximately 1.8% of Merewether Investment Management LP's investment portfolio, making the stock its 23rd biggest holding. Merewether Investment Management LP owned about 0.54% of OGE Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC lifted its stake in shares of OGE Energy by 45.1% during the third quarter. Barclays PLC now owns 126,230 shares of the utilities provider's stock valued at $5,176,000 after acquiring an additional 39,263 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in OGE Energy in the fourth quarter valued at approximately $252,000. Merit Financial Group LLC boosted its position in OGE Energy by 14.2% in the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider's stock valued at $268,000 after buying an additional 810 shares in the last quarter. M.E. Allison & CO. Inc. bought a new stake in shares of OGE Energy in the fourth quarter worth $215,000. Finally, UMB Bank n.a. boosted its position in OGE Energy by 6.7% during the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock valued at $339,000 after acquiring an additional 515 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

OGE has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Friday, April 11th. Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Barclays increased their price target on shares of OGE Energy from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

OGE Energy Stock Performance

NYSE:OGE opened at $43.54 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The firm has a 50-day moving average of $44.65 and a two-hundred day moving average of $43.26. The stock has a market cap of $8.77 billion, a P/E ratio of 19.79, a PEG ratio of 3.30 and a beta of 0.61. OGE Energy Corp. has a 1-year low of $34.20 and a 1-year high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The company's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, research analysts expect that OGE Energy Corp. will post 2.27 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Monday, April 7th. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total transaction of $302,841.00. Following the transaction, the insider now directly owns 72,548 shares in the company, valued at approximately $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is owned by insiders.

OGE Energy Company 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.

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