Reaves W H & Co. Inc. Purchases 93,462 Shares of OGE Energy Corporation $OGE

Reaves W H & Co. Inc. increased its position in shares of OGE Energy Corporation (NYSE:OGE) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,335,747 shares of the utilities provider’s stock after buying an additional 93,462 shares during the period. OGE Energy comprises approximately 1.1% of Reaves W H & Co. Inc.’s holdings, making the stock its 27th largest holding. Reaves W H & Co. Inc. owned about 0.66% of OGE Energy worth $61,805,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in shares of OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after purchasing an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in OGE Energy by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock valued at $25,768,000 after acquiring an additional 23,051 shares during the period. Focus Partners Wealth lifted its position in OGE Energy by 7.5% during the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 637 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of OGE Energy by 6.2% in the 2nd quarter. Truist Financial Corp now owns 22,047 shares of the utilities provider’s stock valued at $978,000 after buying an additional 1,287 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. UBS Group decreased their target price on OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. BMO Capital Markets assumed coverage on shares of OGE Energy in a research report on Tuesday, January 13th. They set a “market perform” rating and a $45.00 price target on the stock. Royal Bank Of Canada reissued a “sector perform” rating on shares of OGE Energy in a research note on Friday, January 23rd. Finally, Wells Fargo & Company cut shares of OGE Energy from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $45.00 to $39.00 in a research report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus price target of $47.13.

OGE Energy Stock Up 0.8%

Shares of NYSE:OGE opened at $44.31 on Tuesday. The firm has a market capitalization of $8.93 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.59 and a beta of 0.62. OGE Energy Corporation has a 1 year low of $40.80 and a 1 year high of $47.33. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52. The firm’s 50-day moving average is $43.19 and its two-hundred day moving average is $44.42.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were paid a $0.425 dividend. The ex-dividend date was Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a yield of 3.8%. OGE Energy’s payout ratio is currently 68.27%.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.