Objective Capital Management LLC Purchases Shares of 10,420 OGE Energy Corporation $OGE

Objective Capital Management LLC acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,420 shares of the utilities provider’s stock, valued at approximately $500,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of OGE Energy during the fourth quarter worth approximately $119,028,000. Morgan Stanley boosted its stake in OGE Energy by 103.2% in the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock valued at $197,625,000 after purchasing an additional 2,350,574 shares during the period. Cohen & Steers Inc. acquired a new position in OGE Energy in the 4th quarter valued at $68,460,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in OGE Energy by 85.8% in the 4th 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 in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new position in OGE Energy during the 4th quarter worth $33,929,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $48.99 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. The company has a market cap of $10.11 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. The company has a 50 day moving average of $47.87 and a 200-day moving average of $46.73. 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 quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 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 business had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that OGE Energy Corporation will post 2.43 earnings per share for the current fiscal 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 issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.5%. OGE Energy’s payout ratio is 75.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on OGE Energy in a report on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 target price for the company. LADENBURG THALM/SH SH raised their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Barclays lifted their price objective on shares of OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $49.20.

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.57% of the company’s stock.

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.