Bleakley Financial Group LLC Buys Shares of 10,777 OGE Energy Corporation $OGE

Bleakley Financial Group LLC bought a new stake in OGE Energy Corporation (NYSE:OGE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,777 shares of the utilities provider’s stock, valued at approximately $460,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest 10 Wealth Builders Inc. lifted its stake in shares of OGE Energy by 618.3% in 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 during the last quarter. State of Wyoming acquired a new stake in shares of OGE Energy in the second quarter worth $34,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of OGE Energy by 49.4% in 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 during the last quarter. Clearstead Advisors LLC lifted its stake in shares of OGE Energy by 96.2% in 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 during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of OGE Energy by 86.0% in 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 during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction 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 owned 74,497 shares of the company’s stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

OGE Energy Trading Down 0.4%

Shares of OGE Energy stock opened at $47.17 on Friday. The firm has a market capitalization of $9.73 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 3.50 and a beta of 0.55. 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 company’s fifty day moving average price is $47.84 and its two-hundred day moving average price is $45.85. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.13.

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. The firm had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Dividend Announcement

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 yield of 3.6%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy’s payout ratio is 75.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. 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 note on Monday, April 20th. Mizuho set a $49.00 price objective on shares of OGE Energy in a research note on Thursday, February 19th. JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 target price on the stock. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, LADENBURG THALM/SH SH boosted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $49.11.

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.