Franklin Resources Inc. Decreases Position in OGE Energy Corp. (NYSE:OGE)

Franklin Resources Inc. lowered its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,757,856 shares of the utilities provider's stock after selling 48,184 shares during the quarter. Franklin Resources Inc. owned 0.87% of OGE Energy worth $72,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in OGE. FMR LLC increased its position in OGE Energy by 16.3% during the third quarter. FMR LLC now owns 558,967 shares of the utilities provider's stock valued at $22,929,000 after acquiring an additional 78,164 shares during the last quarter. BNP Paribas Financial Markets boosted its position in OGE Energy by 316.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider's stock valued at $1,426,000 after buying an additional 26,411 shares during the period. Merit Financial Group LLC grew its stake in OGE Energy by 14.2% in the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider's stock worth $268,000 after acquiring an additional 810 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in OGE Energy by 83.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider's stock worth $3,947,000 after acquiring an additional 43,529 shares in the last quarter. Finally, State Street Corp increased its position in shares of OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock worth $280,425,000 after acquiring an additional 185,069 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

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OGE Energy Stock Up 2.8 %

Shares of NYSE OGE traded up $1.19 during mid-day trading on Tuesday, reaching $43.43. 271,548 shares of the company were exchanged, compared to its average volume of 1,166,025. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $46.91. The firm has a 50-day moving average of $44.26 and a 200 day moving average of $42.53. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 3.30 and a beta of 0.57. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's dividend payout ratio is currently 76.36%.

Wall Street Analysts Forecast Growth

OGE has been the topic of several research reports. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Monday, March 17th. Barclays raised their price target 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 shares of OGE Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $45.67.

About OGE Energy

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.