LFG Wealth Partners LLC Acquires New Position in OGE Energy Corporation $OGE

LFG Wealth Partners LLC acquired a new stake in OGE Energy Corporation (NYSE:OGE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,366 shares of the utilities provider’s stock, valued at approximately $998,000.

Other hedge funds have also recently modified their holdings of the company. Quest 10 Wealth Builders Inc. grew its holdings in shares of OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 674 shares during the period. State of Wyoming purchased a new stake in shares of OGE Energy in the second quarter valued at about $34,000. 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 during the period. Clearstead Advisors LLC grew its holdings in shares of OGE Energy by 96.2% in the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 432 shares during the period. Finally, Arax Advisory Partners purchased a new stake in shares of OGE Energy in the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on OGE shares. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research note on Friday, March 20th. They set an “overweight” rating and a $52.00 target price for the company. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Mizuho set a $49.00 target price on shares of OGE Energy in a research note on Thursday, February 19th. Finally, Wells Fargo & Company increased 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 note on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and six 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 target price of $49.11.

Insider Activity

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 sale, the insider owned 74,497 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

OGE Energy Trading Up 0.2%

Shares of OGE stock opened at $47.89 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market cap of $9.88 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 3.54 and a beta of 0.53. The company has a 50-day moving average of $47.75 and a two-hundred day moving average of $46.05. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.13.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. OGE Energy’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. On average, analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy’s dividend payout ratio is currently 75.89%.

OGE Energy Company 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.