Franklin Resources Inc. Grows Position in OGE Energy Corporation $OGE

Franklin Resources Inc. boosted its stake in OGE Energy Corporation (NYSE:OGE) by 33.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,311,942 shares of the utilities provider’s stock after acquiring an additional 579,606 shares during the quarter. Franklin Resources Inc.’s holdings in OGE Energy were worth $98,720,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quest 10 Wealth Builders Inc. grew its holdings in 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 OGE Energy in the second quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd grew its holdings in 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 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, Smartleaf Asset Management LLC grew its holdings in OGE Energy by 86.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,464 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 677 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider directly owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

OGE Energy Trading Up 0.7%

Shares of OGE stock opened at $47.75 on Thursday. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 3.51 and a beta of 0.53. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.13. The firm’s 50 day moving average price is $47.79 and its two-hundred day moving average price is $45.98.

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. The firm had revenue of $752.60 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.31 earnings per share. On average, analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OGE. Wells Fargo & Company boosted their target price 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. LADENBURG THALM/SH SH lifted their price target 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. Mizuho set a $49.00 price target on shares of OGE Energy in a research report on Thursday, February 19th. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price target 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 a consensus rating of “Hold” and an average target price of $49.11.

OGE Energy 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.