Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in OGE Energy Corp. (NYSE:OGE)

Posted by Defense World Staff on Apr 26th, 2023

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,052 shares of the utilities provider’s stock after purchasing an additional 1,582 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OGE Energy were worth $1,070,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OGE. Edmp Inc. raised its stake in OGE Energy by 3,705.4% during the fourth quarter. Edmp Inc. now owns 1,795,965 shares of the utilities provider’s stock worth $45,410,000 after purchasing an additional 1,748,770 shares during the period. State Street Corp raised its stake in OGE Energy by 24.1% during the first quarter. State Street Corp now owns 7,013,271 shares of the utilities provider’s stock worth $286,001,000 after purchasing an additional 1,360,363 shares during the period. Reaves W H & Co. Inc. raised its stake in OGE Energy by 141.6% during the third quarter. Reaves W H & Co. Inc. now owns 1,992,844 shares of the utilities provider’s stock worth $72,659,000 after purchasing an additional 1,167,861 shares during the period. Thrivent Financial for Lutherans raised its stake in OGE Energy by 252.2% during the third quarter. Thrivent Financial for Lutherans now owns 744,141 shares of the utilities provider’s stock worth $27,132,000 after purchasing an additional 532,884 shares during the period. Finally, Assetmark Inc. raised its stake in OGE Energy by 1,178.2% during the third quarter. Assetmark Inc. now owns 553,504 shares of the utilities provider’s stock worth $20,181,000 after purchasing an additional 510,200 shares during the period. 67.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho dropped their price target on shares of OGE Energy from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, March 23rd. Guggenheim cut shares of OGE Energy from a “buy” rating to a “neutral” rating and lifted their price target for the company from $39.00 to $40.00 in a research report on Monday, January 23rd. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Monday, March 27th. Bank of America cut shares of OGE Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $39.00 in a research report on Friday, February 24th. Finally, UBS Group cut shares of OGE Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $39.00 in a research report on Tuesday, February 28th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.75.

OGE Energy Stock Performance

Shares of OGE stock opened at $37.93 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.74. The stock has a market capitalization of $7.60 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.82 and a beta of 0.73. The company has a 50 day moving average price of $36.87 and a 200 day moving average price of $37.89. OGE Energy Corp. has a fifty-two week low of $33.28 and a fifty-two week high of $42.91.

OGE Energy (NYSE:OGE – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The utilities provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.30. The firm had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $1.06 billion. OGE Energy had a net margin of 19.72% and a return on equity of 15.33%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities research analysts predict that OGE Energy Corp. will post 2.02 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 10th will be issued a dividend of $0.4141 per share. This represents a $1.66 annualized dividend and a yield of 4.37%. The ex-dividend date is Thursday, April 6th. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. OGE Energy’s payout ratio is 49.85%.

Insiders Place Their Bets

In other news, Director David L. Hauser purchased 1,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was bought at an average price of $35.09 per share, for a total transaction of $35,090.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $105,270. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David L. Hauser purchased 1,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was bought at an average price of $35.09 per share, for a total transaction of $35,090.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $105,270. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. Rainbolt purchased 5,000 shares of the stock in a transaction on Monday, February 27th. The shares were purchased at an average price of $36.65 per share, with a total value of $183,250.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $549,750. The disclosure for this purchase can be found here. Insiders bought 6,100 shares of company stock worth $221,925 in the last 90 days. Corporate insiders own 12.90% of the company’s stock.

OGE Energy 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.