ExodusPoint Capital Management LP Buys 485,661 Shares of OGE Energy Corporation $OGE

ExodusPoint Capital Management LP raised its stake in OGE Energy Corporation (NYSE:OGE) by 49.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,460,674 shares of the utilities provider’s stock after acquiring an additional 485,661 shares during the period. OGE Energy accounts for about 0.5% of ExodusPoint Capital Management LP’s holdings, making the stock its 14th biggest holding. ExodusPoint Capital Management LP’s holdings in OGE Energy were worth $62,371,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in OGE Energy by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock valued at $918,079,000 after buying an additional 304,080 shares in the last quarter. State Street Corp lifted its stake in OGE Energy by 1.8% in the fourth quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock valued at $286,685,000 after buying an additional 117,977 shares in the last quarter. Boston Partners lifted its stake in OGE Energy by 0.5% in the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock valued at $290,530,000 after buying an additional 31,138 shares in the last quarter. Clearbridge Investments LLC lifted its stake in OGE Energy by 8.3% in the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock valued at $266,473,000 after buying an additional 479,278 shares in the last quarter. Finally, Morgan Stanley lifted its stake in OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock valued at $197,625,000 after buying an additional 2,350,574 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 74,497 shares in the company, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OGE shares. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 price target on the stock. Mizuho set a $49.00 price objective on shares of OGE Energy in a research report on Thursday, February 19th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays boosted their price objective on shares of OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, OGE Energy presently has an average rating of “Hold” and a consensus price target of $49.11.

OGE Energy Trading Down 0.2%

Shares of NYSE:OGE opened at $47.83 on Wednesday. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.13. The company has a market capitalization of $9.87 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 3.55 and a beta of 0.53. The company has a 50-day simple moving average of $47.73 and a 200 day simple moving average of $46.06. 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 issued its 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 business had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period last year, the business posted $0.31 EPS. OGE Energy’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Announces Dividend

The company also recently announced 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. This represents a $1.70 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy’s dividend payout ratio (DPR) 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.