Bleakley Financial Group LLC Invests $382,000 in OGE Energy Corp. (NYSE:OGE)

Bleakley Financial Group LLC bought a new position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,272 shares of the utilities provider's stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Centennial Wealth Advisory LLC boosted its stake in shares of OGE Energy by 8.7% during the 4th quarter. Centennial Wealth Advisory LLC now owns 8,827 shares of the utilities provider's stock worth $364,000 after acquiring an additional 707 shares during the period. Meritage Portfolio Management boosted its stake in shares of OGE Energy by 12.5% during the 4th quarter. Meritage Portfolio Management now owns 11,832 shares of the utilities provider's stock worth $488,000 after acquiring an additional 1,312 shares during the period. Tectonic Advisors LLC boosted its stake in shares of OGE Energy by 5.6% during the 4th quarter. Tectonic Advisors LLC now owns 16,109 shares of the utilities provider's stock worth $664,000 after acquiring an additional 859 shares during the period. Mather Group LLC. boosted its stake in shares of OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock worth $67,000 after acquiring an additional 279 shares during the period. Finally, Longboard Asset Management LP bought a new position in shares of OGE Energy during the 4th quarter worth approximately $203,000. 71.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OGE has been the subject of several research reports. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays dropped their price target on OGE Energy from $43.00 to $42.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $45.00.

OGE Energy Stock Performance

NYSE:OGE traded down $0.18 during mid-day trading on Friday, hitting $43.54. 666,671 shares of the stock were exchanged, compared to its average volume of 842,076. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 3.18 and a beta of 0.78. The firm's 50-day simple moving average is $41.90 and its 200 day simple moving average is $41.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $44.41.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a $0.4213 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 3.87%. OGE Energy's dividend payout ratio is presently 87.05%.

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.