Truist Financial Corp Increases Position in OGE Energy Corporation $OGE

Truist Financial Corp increased its stake in shares of OGE Energy Corporation (NYSE:OGE) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,047 shares of the utilities provider’s stock after buying an additional 1,287 shares during the quarter. Truist Financial Corp’s holdings in OGE Energy were worth $978,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OGE. Alpine Bank Wealth Management purchased a new stake in shares of OGE Energy during the first quarter valued at $31,000. First Command Advisory Services Inc. purchased a new position in OGE Energy during the 1st quarter worth approximately $36,000. Clearstead Trust LLC purchased a new position in OGE Energy during the 1st quarter worth approximately $42,000. Brooklyn Investment Group raised its position in OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock worth $42,000 after buying an additional 798 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in OGE Energy by 42.9% during the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock worth $44,000 after buying an additional 300 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

OGE Energy stock opened at $45.94 on Tuesday. The company’s fifty day moving average price is $45.01 and its 200 day moving average price is $44.63. OGE Energy Corporation has a 1 year low of $39.10 and a 1 year high of $46.91. The stock has a market capitalization of $9.25 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.18 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $0.425 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. OGE Energy’s payout ratio is currently 69.67%.

Analyst Upgrades and Downgrades

OGE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. UBS Group upped their price target on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

About OGE Energy

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.