Norges Bank Buys Shares of 2,787,552 OGE Energy Corporation $OGE

Norges Bank bought a new position in OGE Energy Corporation (NYSE:OGE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,787,552 shares of the utilities provider’s stock, valued at approximately $119,028,000. Norges Bank owned approximately 1.38% of OGE Energy as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of OGE Energy by 49.4% in the 3rd 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. State of Wyoming acquired a new position in OGE Energy during the second quarter worth $34,000. Quest 10 Wealth Builders Inc. raised its holdings 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 valued at $33,000 after buying an additional 674 shares in the last quarter. Clearstead Advisors LLC raised its holdings in OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock valued at $38,000 after buying an additional 432 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of OGE Energy by 86.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,464 shares of the utilities provider’s stock worth $67,000 after buying an additional 677 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

OGE has been the subject of several recent analyst reports. LADENBURG THALM/SH SH upped their price target on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wells Fargo & Company raised their price objective 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. Barclays upped their target price on OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.11.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

OGE Energy Trading Up 1.3%

Shares of NYSE:OGE opened at $47.01 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66. The stock’s 50-day moving average is $47.81 and its 200-day moving average is $45.89. The company has a market cap of $9.70 billion, a P/E ratio of 20.98, a P/E/G ratio of 3.44 and a beta of 0.53. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.13.

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

OGE Energy Announces Dividend

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 is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. OGE Energy’s payout ratio is 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.