Clearbridge Investments LLC Has $266.47 Million Stock Position in OGE Energy Corporation $OGE

Clearbridge Investments LLC grew its position in OGE Energy Corporation (NYSE:OGE) by 8.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,240,594 shares of the utilities provider’s stock after acquiring an additional 479,278 shares during the period. Clearbridge Investments LLC’s holdings in OGE Energy were worth $266,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in OGE Energy by 1,160.8% in the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after purchasing an additional 87,433 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $47,966,000 after purchasing an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in OGE Energy by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after purchasing an additional 23,051 shares during the period. Focus Partners Wealth boosted its stake in OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 637 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was 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 in the company, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note 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 stock an “equal weight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 target price for the company. 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. Finally, Wall Street Zen downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.11.

OGE Energy Price Performance

Shares of NYSE OGE opened at $47.80 on Friday. 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. The business has a 50-day moving average of $47.82 and a 200-day moving average of $45.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.13.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $752.60 million during 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%.OGE Energy’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. As a group, sell-side analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed 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 is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. OGE Energy’s dividend payout ratio (DPR) is presently 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.