Inspire Trust Co. N.A. Grows Position in OGE Energy Corporation $OGE

Inspire Trust Co. N.A. grew its stake in OGE Energy Corporation (NYSE:OGE) by 19.0% during the 4th quarter, HoldingsChannel reports. The fund owned 138,000 shares of the utilities provider’s stock after purchasing an additional 22,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in OGE Energy were worth $5,893,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC boosted its holdings in OGE Energy by 3.3% in the third quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock worth $323,000 after acquiring an additional 222 shares in the last quarter. Bfsg LLC boosted its holdings in OGE Energy by 2.3% in the fourth quarter. Bfsg LLC now owns 10,280 shares of the utilities provider’s stock worth $439,000 after acquiring an additional 232 shares in the last quarter. Blair William & Co. IL boosted its holdings in OGE Energy by 0.9% in the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock worth $1,270,000 after acquiring an additional 234 shares in the last quarter. Savvy Advisors Inc. boosted its holdings in OGE Energy by 1.4% in the fourth quarter. Savvy Advisors Inc. now owns 18,812 shares of the utilities provider’s stock worth $803,000 after acquiring an additional 251 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted 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 worth $36,000 after acquiring an additional 255 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by corporate insiders.

OGE Energy Stock Down 1.7%

OGE stock opened at $47.34 on Friday. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.13. The business has a fifty day moving average price of $47.85 and a 200-day moving average price of $45.84. 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 stock has a market capitalization of $9.77 billion, a P/E ratio of 21.14, a P/E/G ratio of 3.57 and a beta of 0.55.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results 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 firm 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 business earned $0.31 earnings per share. The company’s revenue was up .7% on a year-over-year basis. Equities analysts forecast that OGE Energy Corporation will post 2.42 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 paid a $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. OGE Energy’s payout ratio is currently 75.89%.

Analysts Set New Price Targets

OGE has been the topic of several analyst reports. Mizuho set a $49.00 target price on OGE Energy in a report on Thursday, February 19th. Barclays boosted their target price on OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Wall Street Zen downgraded OGE Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. initiated coverage on OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $49.11.

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.