AE Wealth Management LLC Grows Stake in OGE Energy Corporation $OGE

AE Wealth Management LLC lifted its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 356,485 shares of the utilities provider’s stock after acquiring an additional 16,058 shares during the period. AE Wealth Management LLC’s holdings in OGE Energy were worth $16,495,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OGE. Norges Bank purchased a new position in OGE Energy in the second quarter valued at approximately $101,421,000. Boston Partners lifted its position in shares of OGE Energy by 15.7% during the 2nd quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock worth $277,388,000 after buying an additional 846,365 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of OGE Energy by 51.2% in the 2nd quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock valued at $104,732,000 after buying an additional 799,264 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 367,960 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of OGE Energy by 39.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,284,334 shares of the utilities provider’s stock valued at $56,999,000 after buying an additional 365,229 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OGE. BMO Capital Markets initiated coverage on shares of OGE Energy in a research report on Tuesday, January 13th. They issued a “market perform” rating and a $45.00 price target for the company. Wells Fargo & Company cut OGE Energy from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $45.00 to $39.00 in a research report on Tuesday, January 20th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. Jefferies Financial Group raised their price target on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Barclays cut their price target on OGE Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.13.

OGE Energy Price Performance

Shares of OGE opened at $43.48 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. OGE Energy Corporation has a fifty-two week low of $40.80 and a fifty-two week high of $47.33. The firm has a 50-day simple moving average of $43.38 and a 200-day simple moving average of $44.47. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.58 and a beta of 0.63.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $1.09 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.9%. OGE Energy’s payout ratio is presently 68.27%.

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.