Corebridge Financial Inc. Reduces Stock Position in OGE Energy Corp. (NYSE:OGE)

Corebridge Financial Inc. lessened its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,371 shares of the utilities provider's stock after selling 10,155 shares during the quarter. Corebridge Financial Inc. owned 0.11% of OGE Energy worth $9,379,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Mather Group LLC. boosted its position 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 purchasing an additional 279 shares during the period. CIBC Asset Management Inc boosted its position in shares of OGE Energy by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after buying an additional 295 shares during the period. Gries Financial LLC boosted its position in shares of OGE Energy by 1.7% during the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider's stock worth $1,274,000 after buying an additional 514 shares during the period. UMB Bank n.a. grew its stake in shares of OGE Energy by 6.7% in the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock valued at $339,000 after buying an additional 515 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of OGE Energy by 1.0% in the 4th quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider's stock valued at $2,405,000 after buying an additional 549 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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OGE Energy Stock Up 1.1 %

NYSE OGE traded up $0.50 during trading hours on Monday, hitting $45.99. 1,744,536 shares of the company were exchanged, compared to its average volume of 1,168,159. The company has a 50 day moving average of $44.07 and a two-hundred day moving average of $42.38. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.66%. OGE Energy's dividend payout ratio is currently 76.36%.

Analyst Upgrades and Downgrades

OGE has been the subject of a number of research analyst reports. Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and raised their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Monday, March 17th. Finally, Barclays lifted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.