Fifth Third Bancorp Buys 56,502 Shares of OGE Energy Corporation $OGE

Fifth Third Bancorp boosted its stake in shares of OGE Energy Corporation (NYSE:OGE) by 1,010.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,092 shares of the utilities provider’s stock after buying an additional 56,502 shares during the quarter. Fifth Third Bancorp’s holdings in OGE Energy were worth $2,978,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC raised its position in shares of OGE Energy by 111.3% during the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 315 shares during the last quarter. Quest 10 Wealth Builders Inc. boosted its holdings in OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 674 shares during the last quarter. State of Wyoming acquired a new stake in OGE Energy during the 2nd quarter valued at approximately $34,000. Capital Advisors Ltd. LLC increased its position in OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 739 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Down 0.2%

OGE Energy stock opened at $48.61 on Tuesday. The company has a market capitalization of $10.03 billion, a PE ratio of 21.70, a PEG ratio of 3.60 and a beta of 0.53. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.26. The firm’s fifty day moving average is $48.02 and its 200 day moving average is $46.94. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share 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 firm had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that OGE Energy Corporation will post 2.43 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy’s dividend payout ratio (DPR) is 75.89%.

Insider Activity at OGE Energy

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 stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OGE. Wall Street Zen cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. LADENBURG THALM/SH SH boosted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Morgan Stanley assumed coverage on shares of OGE Energy in a research report on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price target on the stock. Wells Fargo & Company increased their price target on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Barclays lifted their price objective on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, OGE Energy has a consensus rating of “Hold” and an average target price of $49.30.

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.