Pinebridge Investments LLC Purchases Shares of 104,891 OGE Energy Corporation $OGE

Pinebridge Investments LLC purchased a new stake in OGE Energy Corporation (NYSE:OGE) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 104,891 shares of the utilities provider’s stock, valued at approximately $4,479,000.

A number of other institutional investors have also recently made changes to their positions in OGE. Millennium Management LLC grew its position in shares of OGE Energy by 1,160.8% in the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after buying an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after buying an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of OGE Energy by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock valued at $25,768,000 after buying an additional 23,051 shares during the last quarter. Focus Partners Wealth grew its position in shares of OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after buying an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after buying an additional 321 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider owned 74,497 shares in the company, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $47.80 on Monday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.13. 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’s 50-day moving average is $47.82 and its 200 day moving average is $45.91. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 3.54 and a beta of 0.53.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The company had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate 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. Investors of record on Monday, July 6th will be given a dividend of $0.425 per share. 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 dividend payout ratio is presently 75.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho set a $49.00 price target on OGE Energy in a research report on Thursday, February 19th. Wall Street Zen lowered OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Wells Fargo & Company upped their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. began coverage on OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 target price on the stock. Finally, Barclays upped their target price on OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, OGE Energy 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.