Royal Bank of Canada Boosts Stock Position in OGE Energy Corporation $OGE

Royal Bank of Canada increased its position in shares of OGE Energy Corporation (NYSE:OGE) by 89.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 157,249 shares of the utilities provider’s stock after acquiring an additional 74,242 shares during the period. Royal Bank of Canada’s holdings in OGE Energy were worth $7,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio increased its stake in OGE Energy by 4.5% during the first quarter. Strs Ohio now owns 5,029 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 217 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of OGE Energy by 3.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider’s stock valued at $323,000 after purchasing an additional 218 shares during the period. Orion Porfolio Solutions LLC boosted its stake in shares of OGE Energy by 3.3% in the third quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock valued at $323,000 after purchasing an additional 222 shares during the period. Blair William & Co. IL boosted its stake in shares of OGE Energy by 0.9% in the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock valued at $1,270,000 after purchasing an additional 234 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings 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 valued at $36,000 after purchasing an additional 255 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OGE. LADENBURG THALM/SH SH upped 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 raised their price target on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley set a $51.00 price objective on OGE Energy in a research report on Wednesday, July 22nd. Finally, Barclays increased their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, OGE Energy has an average rating of “Hold” and a consensus target price of $49.80.

OGE Energy Price Performance

OGE Energy stock opened at $46.11 on Tuesday. The stock has a market cap of $9.53 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. The company has a fifty day simple moving average of $48.14 and a 200-day simple moving average of $47.47. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 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 net margin of 14.44% and a return on equity of 9.48%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Equities analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were issued a $0.425 dividend. 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 is presently 74.89%.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.