Bank of Nova Scotia Purchases New Stake in OGE Energy Corp. (NYSE:OGE)

Bank of Nova Scotia bought a new stake in OGE Energy Corp. (NYSE:OGE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 60,400 shares of the utilities provider's stock, valued at approximately $2,492,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of OGE Energy in the 4th quarter valued at about $27,000. Stonebridge Financial Group LLC purchased a new position in OGE Energy in the fourth quarter valued at approximately $35,000. Principal Securities Inc. lifted its position in OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock valued at $40,000 after buying an additional 659 shares in the last quarter. BankPlus Trust Department purchased a new stake in OGE Energy during the fourth quarter worth approximately $44,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of OGE Energy in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on OGE. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Friday, April 11th. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Monday, March 17th. Barclays increased 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. Finally, Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.00.

OGE Energy Stock Up 0.7 %

NYSE:OGE traded up $0.31 on Friday, reaching $45.01. The stock had a trading volume of 887,360 shares, compared to its average volume of 1,169,796. The company has a 50-day moving average of $44.53 and a 200 day moving average of $42.70. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a market cap of $9.06 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. OGE Energy Corp. has a 12-month low of $32.83 and a 12-month high of $46.91.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Monday, April 7th. OGE Energy's dividend payout ratio is currently 76.36%.

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.