MidFirst Bank Invests $1.09 Million in OGE Energy Corporation $OGE

MidFirst Bank purchased a new stake in OGE Energy Corporation (NYSE:OGE) in the fourth quarter, Holdings Channel reports. The firm purchased 25,506 shares of the utilities provider’s stock, valued at approximately $1,089,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quest 10 Wealth Builders Inc. lifted its stake in OGE Energy by 618.3% during 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 during the last quarter. State of Wyoming bought a new stake in OGE Energy during the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd increased its stake in OGE Energy by 49.4% during 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 last quarter. Clearstead Advisors LLC raised its holdings in shares of OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 432 shares during the period. Finally, Sandia Investment Management LP acquired a new stake in shares of OGE Energy during the fourth quarter worth $43,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OGE shares. Wells Fargo & Company lifted their price target on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. 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 price objective on the stock. Barclays raised their target price on shares of OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Weiss Ratings raised OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $49.11.

Insiders Place Their Bets

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the business’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 transaction, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by insiders.

OGE Energy Price Performance

NYSE OGE opened at $47.26 on Friday. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.13. 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 stock has a market cap of $9.75 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 3.50 and a beta of 0.53. The company has a 50-day moving average price of $47.63 and a two-hundred day moving average price of $46.09.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $752.60 million for 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 business earned $0.31 earnings per share. Analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

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