Chicago Partners Investment Group LLC Takes $536,000 Position in OGE Energy Corporation $OGE

Chicago Partners Investment Group LLC acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,645 shares of the utilities provider’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted 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 period. Goldman Sachs Group Inc. raised its position in OGE Energy by 54.5% in the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in OGE Energy by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after purchasing an additional 23,051 shares during the last quarter. Focus Partners Wealth lifted its stake in OGE Energy by 7.5% in the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

OGE Energy Price Performance

OGE Energy stock opened at $48.66 on Friday. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.26. The firm has a 50-day moving average of $47.99 and a two-hundred day moving average of $46.87.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $752.60 million for the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, research analysts forecast that OGE Energy Corporation will post 2.43 earnings per share for the current year.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a yield of 3.5%. OGE Energy’s dividend payout ratio is 75.89%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OGE shares. Weiss Ratings raised OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. LADENBURG THALM/SH SH raised their price target on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Barclays upped their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley assumed coverage on OGE Energy in a research note on Wednesday, June 24th. They issued an “equal weight” rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.30.

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.