Norges Bank Invests $119.03 Million in OGE Energy Corporation $OGE

Norges Bank acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,787,552 shares of the utilities provider’s stock, valued at approximately $119,028,000.

Several other hedge funds have also made changes to their positions in OGE. Vanguard Group Inc. increased its stake in OGE Energy by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock valued at $918,079,000 after acquiring an additional 304,080 shares during the period. Boston Partners lifted its position in shares of OGE Energy by 0.5% in the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock worth $290,530,000 after acquiring an additional 31,138 shares during the period. Geode Capital Management LLC lifted its position in shares of OGE Energy by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock worth $163,397,000 after acquiring an additional 204,510 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of OGE Energy by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,613,959 shares of the utilities provider’s stock worth $120,944,000 after purchasing an additional 35,162 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of OGE Energy by 2.7% during the third quarter. Northern Trust Corp now owns 2,521,165 shares of the utilities provider’s stock valued at $116,654,000 after purchasing an additional 67,224 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE Energy stock opened at $47.01 on Friday. The business has a 50 day simple moving average of $47.81 and a 200 day simple moving average of $45.89. 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 company has a market capitalization of $9.70 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.44 and a beta of 0.53. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.13.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm had revenue of $752.60 million for the quarter, compared to analysts’ expectations of $616.02 million. During the same period in the prior year, the business posted $0.31 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OGE shares. Wells Fargo & Company upped their target price on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Barclays increased their price objective on shares of OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. initiated coverage on shares of OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.11.

Insider Activity

In related 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 $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

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.