Royal Bank of Canada Boosts Holdings in OGE Energy Corporation $OGE

Royal Bank of Canada grew its stake in OGE Energy Corporation (NYSE:OGE) by 89.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,249 shares of the utilities provider’s stock after purchasing an additional 74,242 shares during the quarter. Royal Bank of Canada owned approximately 0.08% of OGE Energy worth $7,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Millennium Management LLC boosted its holdings 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 buying an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after acquiring an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of OGE Energy by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock valued at $25,768,000 after acquiring an additional 23,051 shares during the last quarter. Focus Partners Wealth lifted its position in shares of OGE Energy by 7.5% in the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after acquiring an additional 637 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of OGE Energy by 3.9% in the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on OGE shares. Morgan Stanley set a $51.00 price target on OGE Energy in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. 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 report on Thursday, April 30th. Finally, BMO Capital Markets reduced their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average target price of $49.80.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $46.11 on Tuesday. The firm has a market cap of $9.53 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.59. The business’s fifty day simple moving average is $48.14 and its 200-day simple moving average is $47.47.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. Equities analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a dividend of $0.425 per share. The ex-dividend date was Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. OGE Energy’s dividend payout ratio (DPR) is currently 74.89%.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

OGE Energy 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.