104,891 Shares in OGE Energy Corporation $OGE Acquired by Pinebridge Investments LLC

Pinebridge Investments LLC acquired a new stake in OGE Energy Corporation (NYSE:OGE) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 104,891 shares of the utilities provider’s stock, valued at approximately $4,479,000. Pinebridge Investments LLC owned approximately 0.05% of OGE Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Millennium Management LLC raised 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 valued at $4,365,000 after acquiring an additional 87,433 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings 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 valued at $47,966,000 after acquiring an additional 367,960 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $25,768,000 after acquiring an additional 23,051 shares in the last quarter. Focus Partners Wealth raised its holdings in OGE Energy by 7.5% in the 1st 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. raised its holdings 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 valued at $382,000 after acquiring an additional 321 shares in the last quarter. 71.84% of the stock is 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 company’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 of the company’s stock, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OGE. JPMorgan Chase & Co. began coverage on OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective for the company. LADENBURG THALM/SH SH lifted their price objective on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Wells Fargo & Company lifted their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Weiss Ratings raised OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Barclays lifted their price target on OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and an average price target of $49.11.

OGE Energy Stock Performance

Shares of OGE opened at $47.80 on Monday. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.13. The business’s fifty day moving average is $47.82 and its 200-day moving average is $45.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 3.54 and a beta of 0.53.

OGE Energy (NYSE:OGE) last issued 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. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The company had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy’s dividend payout ratio 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.