MML Investors Services LLC Boosts Stake in OGE Energy Corp. (NYSE:OGE)

Posted by on Mar 2nd, 2023

MML Investors Services LLC raised its holdings in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,388 shares of the utilities provider’s stock after buying an additional 1,942 shares during the period. MML Investors Services LLC’s holdings in OGE Energy were worth $1,363,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. CoreCap Advisors LLC purchased a new position in OGE Energy during the 2nd quarter valued at $27,000. Private Trust Co. NA bought a new position in shares of OGE Energy in the second quarter worth about $31,000. Ten Capital Wealth Advisors LLC bought a new position in shares of OGE Energy in the third quarter worth about $42,000. Quadrant Capital Group LLC increased its stake in OGE Energy by 39.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,169 shares of the utilities provider’s stock worth $43,000 after buying an additional 331 shares during the period. Finally, Wipfli Financial Advisors LLC bought a new stake in OGE Energy during the 3rd quarter valued at about $75,000. Institutional investors own 67.78% of the company’s stock.

OGE Energy Stock Down 1.6 %

Shares of OGE Energy stock opened at $35.14 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.04 billion, a P/E ratio of 10.62, a PEG ratio of 1.72 and a beta of 0.71. The firm’s 50 day moving average price is $38.85 and its 200-day moving average price is $38.92. OGE Energy Corp. has a 52-week low of $33.28 and a 52-week high of $42.91.

OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.30. OGE Energy had a net margin of 19.72% and a return on equity of 15.33%. The business had revenue of $711.90 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, sell-side analysts predict that OGE Energy Corp. will post 2.03 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 10th will be paid a $0.4141 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. This represents a $1.66 dividend on an annualized basis and a yield of 4.71%. OGE Energy’s dividend payout ratio (DPR) is 50.15%.

Insiders Place Their Bets

In related news, Director David E. Rainbolt acquired 5,000 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were purchased at an average price of $36.65 per share, for a total transaction of $183,250.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $549,750. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 12.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $39.00 in a research report on Friday, February 24th. Guggenheim lowered OGE Energy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $39.00 to $40.00 in a research report on Monday, January 23rd. StockNews.com downgraded OGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 25th. UBS Group lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $39.00 in a research note on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of OGE Energy to $42.00 in a report on Wednesday, December 14th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.71.

OGE Energy Company Profile

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OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.

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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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