26,127 Shares in OGE Energy Corporation $OGE Bought by Andra AP fonden

Andra AP fonden purchased a new position in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,127 shares of the utilities provider’s stock, valued at approximately $1,160,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. Dynamic Technology Lab Private Ltd acquired a new stake in shares of OGE Energy in the 1st quarter valued at about $385,000. Inspire Investing LLC grew its stake in OGE Energy by 100.2% in the first quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock worth $1,482,000 after purchasing an additional 16,141 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in OGE Energy by 274.7% in the second quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock valued at $783,000 after buying an additional 12,935 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in OGE Energy by 40.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock worth $1,928,000 after buying an additional 12,430 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in OGE Energy by 18,212.6% during the 1st quarter. Acadian Asset Management LLC now owns 74,349 shares of the utilities provider’s stock worth $3,411,000 after buying an additional 73,943 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays upped their price target on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Mizuho increased their target price on shares of OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Jefferies Financial Group boosted their price objective on shares of OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada raised shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

OGE Energy Stock Up 0.5%

Shares of OGE Energy stock opened at $44.29 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy Corporation has a 1-year low of $39.41 and a 1-year high of $47.33. The business’s fifty day moving average price is $45.11 and its two-hundred day moving average price is $44.78. The company has a market capitalization of $8.92 billion, a P/E ratio of 17.79, a PEG ratio of 3.08 and a beta of 0.60.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. OGE Energy has set its FY 2025 guidance at 2.210-2.330 EPS. As a group, research analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is 68.27%.

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.