Magellan Asset Management Ltd Sells 1,999 Shares of OGE Energy Corporation $OGE

Magellan Asset Management Ltd lessened its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 132,897 shares of the utilities provider’s stock after selling 1,999 shares during the period. Magellan Asset Management Ltd owned 0.07% of OGE Energy worth $5,898,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in shares of OGE Energy by 427.0% in the second quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after buying an additional 632 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of OGE Energy in the first quarter valued at approximately $36,000. Clearstead Trust LLC acquired a new position in shares of OGE Energy in the first quarter valued at $42,000. Brooklyn Investment Group raised its holdings in OGE Energy by 725.5% in the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 798 shares during the period. Finally, Tompkins Financial Corp lifted its holdings in OGE Energy by 42.9% during the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 300 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE opened at $44.29 on Friday. OGE Energy Corporation has a fifty-two week low of $39.41 and a fifty-two week high of $47.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The firm has a market cap of $8.92 billion, a P/E ratio of 17.79, a PEG ratio of 3.08 and a beta of 0.60. The firm has a 50-day moving average of $45.11 and a 200 day moving average of $44.79.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, October 29th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a net margin of 15.28% and a return on equity of 10.86%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $1.09 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. OGE Energy has set its FY 2025 guidance at 2.210-2.330 EPS. On average, research analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.8%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 6th. OGE Energy’s payout ratio is currently 68.27%.

Analysts Set New Price Targets

OGE has been the topic of a number of recent research reports. Mizuho raised their price objective on OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. UBS Group upped their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Jefferies Financial Group boosted their target price on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Barclays raised their price target on shares of OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.75.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.