Clearbridge Investments LLC Buys 479,278 Shares of OGE Energy Corporation $OGE

Clearbridge Investments LLC increased its stake in OGE Energy Corporation (NYSE:OGE) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,240,594 shares of the utilities provider’s stock after purchasing an additional 479,278 shares during the period. Clearbridge Investments LLC owned 3.10% of OGE Energy worth $266,473,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OGE. Quest 10 Wealth Builders Inc. raised its position in OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 674 shares during the last quarter. State of Wyoming bought a new position in OGE Energy in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd raised its position 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 during the last quarter. Clearstead Advisors LLC raised its position in OGE Energy by 96.2% in the 4th quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 432 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of OGE Energy by 86.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,464 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 677 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho set a $49.00 target price on shares of OGE Energy in a research report on Thursday, February 19th. Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Barclays upped their target price on shares of OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Wells Fargo & Company upped their target price on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. assumed coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 target price for the company. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.11.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $47.80 on Friday. The firm has a fifty day moving average of $47.82 and a two-hundred day moving average of $45.91. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 3.54 and a beta of 0.53. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. During the same quarter in the previous year, the business earned $0.31 EPS. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current 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 issued a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. OGE Energy’s payout ratio is 75.89%.

About OGE Energy

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.