Mercer Global Advisors Inc. ADV Cuts Stake in OGE Energy Corp. (NYSE:OGE)

Posted by Defense World Staff on May 17th, 2023

Mercer Global Advisors Inc. ADV lowered its holdings in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,768 shares of the utilities provider’s stock after selling 2,697 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in OGE Energy were worth $1,612,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OGE. Edmp Inc. grew its position in shares of 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 in the last quarter. State Street Corp boosted 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 valued at $286,001,000 after buying an additional 1,360,363 shares during the last quarter. Reaves W H & Co. Inc. boosted 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 valued at $72,659,000 after buying an additional 1,167,861 shares during the last quarter. Thrivent Financial for Lutherans boosted 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 valued at $27,132,000 after buying an additional 532,884 shares during the last quarter. Finally, CI Investments Inc. boosted its stake in OGE Energy by 22.2% during the third quarter. CI Investments Inc. now owns 2,245,626 shares of the utilities provider’s stock valued at $81,876,000 after buying an additional 408,058 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho dropped their price target on OGE Energy from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, March 23rd. TheStreet lowered OGE Energy from a “b” rating to a “c+” rating in a research note on Monday, March 27th. LADENBURG THALM/SH SH began coverage on OGE Energy in a research note on Thursday, April 20th. They issued a “neutral” rating and a $37.00 price objective for the company. Bank of America lowered OGE Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $39.00 in a research note on Friday, February 24th. Finally, UBS Group lowered OGE Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $39.00 in a research note on Tuesday, February 28th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $38.75.

Insider Buying and Selling at OGE Energy

In other news, Director David L. Hauser bought 1,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were acquired at an average price of $35.09 per share, for a total transaction of $35,090.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $105,270. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director David L. Hauser bought 1,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were acquired at an average price of $35.09 per share, for a total transaction of $35,090.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $105,270. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David E. Rainbolt bought 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $549,750. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,100 shares of company stock worth $221,925 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

OGE Energy Trading Down 1.6 %

Shares of OGE Energy stock opened at $36.63 on Wednesday. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.05 and a beta of 0.73. OGE Energy Corp. has a fifty-two week low of $33.28 and a fifty-two week high of $42.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.64 and a current ratio of 0.84. The stock has a 50 day moving average of $37.02 and a 200 day moving average of $38.14.

OGE Energy (NYSE:OGE – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The company had revenue of $544.60 million during the quarter, compared to analyst estimates of $556.82 million. OGE Energy had a return on equity of 9.71% and a net margin of 12.70%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. As a group, research analysts predict that OGE Energy Corp. will post 2.01 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Monday, April 10th were paid a $0.4141 dividend. The ex-dividend date was 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 4.52%. OGE Energy’s dividend payout ratio (DPR) is currently 78.67%.

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.