Federated Hermes Inc. Has $1.21 Million Position in OGE Energy Corp. (NYSE:OGE)

Federated Hermes Inc. trimmed its position in OGE Energy Corp. (NYSE:OGE – Get Rating) by 65.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 33,281 shares of the utilities provider’s stock after selling 62,448 shares during the period. Federated Hermes Inc.’s holdings in OGE Energy were worth $1,213,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of OGE. Belpointe Asset Management LLC grew its stake in shares of OGE Energy by 10.7% in the 3rd quarter. Belpointe Asset Management LLC now owns 9,950 shares of the utilities provider’s stock valued at $363,000 after buying an additional 963 shares during the period. CI Investments Inc. grew its position in shares of OGE Energy by 22.2% during the 3rd quarter. CI Investments Inc. now owns 2,245,626 shares of the utilities provider’s stock valued at $81,876,000 after purchasing an additional 408,058 shares in the last quarter. United Capital Financial Advisers LLC grew its position in OGE Energy by 17.7% in the third quarter. United Capital Financial Advisers LLC now owns 12,699 shares of the utilities provider’s stock worth $463,000 after acquiring an additional 1,910 shares in the last quarter. Principal Street Partners LLC purchased a new position in OGE Energy in the third quarter worth $4,465,000. Finally, Segall Bryant & Hamill LLC lifted its stake in OGE Energy by 9.2% in the third quarter. Segall Bryant & Hamill LLC now owns 696,087 shares of the utilities provider’s stock worth $25,382,000 after purchasing an additional 58,673 shares during the last quarter. 67.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OGE has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on shares of OGE Energy to $42.00 in a research note on Wednesday, December 14th. UBS Group downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $41.00 to $39.00 in a research note on Tuesday, February 28th. StockNews.com downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 25th. Guggenheim downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $39.00 to $40.00 in a research note on Monday, January 23rd. Finally, Bank of America downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $41.00 to $39.00 in a research note on Friday, February 24th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.71.

OGE Energy Price Performance

OGE stock opened at $34.40 on Monday. OGE Energy Corp. has a 1 year low of $33.28 and a 1 year high of $42.91. The company has a market cap of $6.89 billion, a P/E ratio of 10.39, a PEG ratio of 1.66 and a beta of 0.71. The firm has a 50-day moving average of $38.21 and a 200 day moving average of $38.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.74 and a quick ratio of 0.58.

OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.30. OGE Energy had a net margin of 19.72% and a return on equity of 15.33%. The company had revenue of $711.90 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. OGE Energy’s revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts forecast that OGE Energy Corp. will post 2.03 EPS for the current year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Monday, April 10th will be paid a $0.4141 dividend. This is an increase from OGE Energy’s previous quarterly dividend of $0.41. This represents a $1.66 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Thursday, April 6th. OGE Energy’s dividend payout ratio is presently 50.15%.

Insider Buying and Selling

In other OGE Energy news, Director David E. Rainbolt acquired 5,000 shares of the business’s stock in a transaction on Monday, February 27th. The shares were acquired at an average price of $36.65 per share, for a total transaction of $183,250.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $549,750. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.90% of the stock is owned by insiders.

About OGE Energy

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OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.