Lazard Asset Management LLC Sells 31,877 Shares of OGE Energy Corporation $OGE

Lazard Asset Management LLC reduced its holdings in OGE Energy Corporation (NYSE:OGE) by 57.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,244 shares of the utilities provider’s stock after selling 31,877 shares during the quarter. Lazard Asset Management LLC’s holdings in OGE Energy were worth $1,115,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of OGE. Root Financial Partners LLC raised its position in OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 315 shares during the last quarter. Quest 10 Wealth Builders Inc. boosted its stake 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 worth $33,000 after purchasing an additional 674 shares in the last quarter. State of Wyoming bought a new stake in shares of OGE Energy during the second quarter worth $34,000. Capital Advisors Ltd. LLC grew its holdings in shares of OGE Energy by 14,780.0% during the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 739 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake 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 buying an additional 255 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley set a $51.00 price target on OGE Energy in a report on Wednesday, July 22nd. Barclays increased their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Friday. BMO Capital Markets dropped their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their target price on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Trading Up 0.1%

OGE stock opened at $47.41 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59. The company has a market cap of $9.79 billion, a P/E ratio of 20.89, a PEG ratio of 3.51 and a beta of 0.53. The business has a fifty day moving average of $48.17 and a 200-day moving average of $47.39.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. As a group, equities research analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a dividend of $0.425 per share. The ex-dividend date was Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. OGE Energy’s dividend payout ratio is presently 74.89%.

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.