Legal & General Group Plc Sells 104,479 Shares of OGE Energy Corporation $OGE

Legal & General Group Plc lessened its holdings in OGE Energy Corporation (NYSE:OGE) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 992,209 shares of the utilities provider’s stock after selling 104,479 shares during the quarter. Legal & General Group Plc’s holdings in OGE Energy were worth $42,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of OGE. Life Cycle Investment Partners Ltd bought a new position in OGE Energy in the 4th quarter valued at $33,929,000. Millennium Management LLC grew its stake in OGE Energy by 843.6% in the 3rd quarter. Millennium Management LLC now owns 819,492 shares of the utilities provider’s stock valued at $37,918,000 after purchasing an additional 732,641 shares during the period. Qube Research & Technologies Ltd grew its stake in OGE Energy by 305.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 537,908 shares of the utilities provider’s stock valued at $24,889,000 after purchasing an additional 405,113 shares during the period. Goldman Sachs Group Inc. grew its stake 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 valued at $47,966,000 after purchasing an additional 367,960 shares during the period. Finally, Aventail Capital Group LP lifted its position in shares of OGE Energy by 68.1% during the 3rd quarter. Aventail Capital Group LP now owns 864,588 shares of the utilities provider’s stock valued at $40,004,000 after buying an additional 350,342 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the topic of a number of recent research reports. Mizuho set a $49.00 price target on OGE Energy in a research report on Thursday, February 19th. LADENBURG THALM/SH SH upped their price target on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Wells Fargo & Company upped their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. initiated coverage on OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price target on the stock. Finally, Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, OGE Energy has a consensus rating of “Hold” and an average price target of $49.11.

OGE Energy Stock Down 0.4%

Shares of NYSE OGE opened at $47.17 on Friday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.13. 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 business’s fifty day moving average price is $47.84 and its 200-day moving average price is $45.85. The stock has a market capitalization of $9.73 billion, a PE ratio of 21.06, a P/E/G ratio of 3.50 and a beta of 0.55.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $752.60 million for the quarter, compared to analysts’ expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, equities research analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Dividend Announcement

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

Insider Transactions at OGE Energy

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

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.