OGE Energy Corp. (NYSE:OGE) Position Reduced by AlphaQuest LLC

AlphaQuest LLC trimmed its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 96.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,571 shares of the utilities provider's stock after selling 40,947 shares during the period. AlphaQuest LLC's holdings in OGE Energy were worth $65,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in OGE Energy in the fourth quarter valued at approximately $11,862,000. Verition Fund Management LLC boosted its stake in OGE Energy by 25.2% in the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider's stock valued at $54,087,000 after acquiring an additional 265,115 shares during the period. Victory Capital Management Inc. boosted its stake in OGE Energy by 59.4% in the fourth quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider's stock valued at $22,667,000 after acquiring an additional 204,837 shares during the period. Strategic Financial Concepts LLC acquired a new position in OGE Energy in the fourth quarter valued at approximately $8,195,000. Finally, State Street Corp boosted its stake in OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock valued at $280,425,000 after acquiring an additional 185,069 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of NYSE OGE traded down $0.31 during midday trading on Friday, hitting $44.95. 3,377,872 shares of the company's stock were exchanged, compared to its average volume of 1,128,967. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The stock's 50 day moving average price is $43.65 and its 200-day moving average price is $42.15. The firm has a market cap of $9.05 billion, a P/E ratio of 20.43, a PEG ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.54.

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OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.75%. OGE Energy's dividend payout ratio is presently 76.36%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OGE. Barclays lifted their target price on OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Monday, March 17th. Finally, Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $45.67.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.