Fox Run Management L.L.C. Raises Position in OGE Energy Corporation $OGE

Fox Run Management L.L.C. grew its position in OGE Energy Corporation (NYSE:OGE) by 161.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,153 shares of the utilities provider’s stock after acquiring an additional 16,152 shares during the period. Fox Run Management L.L.C.’s holdings in OGE Energy were worth $1,117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OGE. Quest 10 Wealth Builders Inc. boosted its holdings in OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after buying an additional 674 shares in the last quarter. State of Wyoming purchased a new stake in OGE Energy during the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after buying an additional 255 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock worth $38,000 after buying an additional 432 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in OGE Energy by 86.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,464 shares of the utilities provider’s stock worth $67,000 after buying an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Activity

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the company’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 sale, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

OGE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of OGE Energy in a report on Friday, March 20th. They set an “overweight” rating and a $52.00 price objective on the stock. Wall Street Zen downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. 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 report on Monday, April 20th. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Mizuho set a $49.00 price objective on shares of OGE Energy in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.11.

OGE Energy Stock Up 1.6%

Shares of NYSE OGE opened at $47.36 on Wednesday. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.13. The company has a market capitalization of $9.77 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 3.45 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. The firm’s 50-day moving average is $47.79 and its two-hundred day moving average is $45.96.

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 for the quarter, compared to the consensus estimate of $616.02 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy’s dividend payout ratio is 75.89%.

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.