Fifth Third Bancorp Has $2.98 Million Stake in OGE Energy Corporation $OGE

Fifth Third Bancorp lifted its position in shares of OGE Energy Corporation (NYSE:OGE) by 1,010.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,092 shares of the utilities provider’s stock after purchasing an additional 56,502 shares during the period. Fifth Third Bancorp’s holdings in OGE Energy were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OGE. Root Financial Partners LLC boosted its position in shares of OGE Energy by 111.3% in the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 315 shares during the period. Quest 10 Wealth Builders Inc. grew its stake in shares of OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 674 shares in the last quarter. State of Wyoming bought a new position in OGE Energy during the second quarter worth about $34,000. Capital Advisors Ltd. LLC increased its position in OGE Energy by 14,780.0% during the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 739 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 255 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Trading Down 0.2%

OGE opened at $48.61 on Tuesday. The company has a market cap of $10.03 billion, a P/E ratio of 21.70, a PEG ratio of 3.60 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $48.02 and its 200-day moving average is $46.94. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.26.

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

OGE Energy Dividend Announcement

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

Insider Buying and Selling at OGE Energy

In related 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 sale, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OGE shares. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Barclays lifted their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings raised OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Morgan Stanley began coverage on OGE Energy in a research report on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price target on the stock. Finally, Wells Fargo & Company lifted 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. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.