Cohen & Steers Inc. Buys New Stake in OGE Energy Corporation $OGE

Cohen & Steers Inc. bought a new stake in OGE Energy Corporation (NYSE:OGE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,603,279 shares of the utilities provider’s stock, valued at approximately $68,460,000.

Several other large investors have also recently bought and sold shares of OGE. Norges Bank purchased a new position in OGE Energy in the fourth quarter valued at $119,028,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in OGE Energy by 85.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider’s stock valued at $94,605,000 after buying an additional 1,022,863 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in OGE Energy in the fourth quarter valued at $33,929,000. Millennium Management LLC increased its holdings in OGE Energy by 843.6% in the third quarter. Millennium Management LLC now owns 819,492 shares of the utilities provider’s stock valued at $37,918,000 after buying an additional 732,641 shares during the last quarter. Finally, Reaves W H & Co. Inc. increased its holdings in OGE Energy by 45.6% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,944,201 shares of the utilities provider’s stock valued at $83,017,000 after buying an additional 608,454 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on OGE. Weiss Ratings raised OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. began coverage on OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 target price on the stock. Wells Fargo & Company increased their target price on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Mizuho set a $49.00 target price on OGE Energy in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.11.

OGE Energy Stock Performance

NYSE OGE opened at $47.78 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.13. The company has a market capitalization of $9.86 billion, a PE ratio of 21.33, a P/E/G ratio of 3.51 and a beta of 0.53. The company has a fifty day moving average of $47.77 and a two-hundred day moving average of $46.02.

OGE Energy (NYSE:OGE) last released its quarterly earnings data 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 net margin of 14.03% and a return on equity of 9.47%. The company had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. OGE Energy’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts expect that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy’s dividend payout ratio is currently 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.