Harvest Fund Management Co. Ltd Buys New Holdings in OGE Energy Corp. (NYSE:OGE)

Harvest Fund Management Co. Ltd purchased a new stake 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 purchased 7,857 shares of the utilities provider's stock, valued at approximately $324,000.

Other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in OGE Energy in the third quarter valued at approximately $392,000. CIBC Asset Management Inc bought a new position in shares of OGE Energy during the 3rd quarter valued at $236,000. Natixis Advisors LLC lifted its stake in shares of OGE Energy by 12.5% in the 3rd quarter. Natixis Advisors LLC now owns 72,751 shares of the utilities provider's stock valued at $2,984,000 after purchasing an additional 8,060 shares during the last quarter. Navellier & Associates Inc. bought a new stake in OGE Energy in the third quarter worth $785,000. Finally, Charles Schwab Investment Management Inc. increased its position in OGE Energy by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider's stock worth $54,960,000 after buying an additional 4,761 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

OGE traded up $0.49 during midday trading on Wednesday, reaching $44.83. The company's stock had a trading volume of 1,022,193 shares, compared to its average volume of 1,129,904. The company has a fifty day simple moving average of $43.82 and a 200 day simple moving average of $42.23. The stock has a market cap of $9.02 billion, a P/E ratio of 20.38, a PEG ratio of 3.30 and a beta of 0.70. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. 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 business 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. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Monday, April 7th. OGE Energy's dividend payout ratio is currently 76.36%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OGE. 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. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Monday, March 17th. Finally, Barclays increased their price target on OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, OGE Energy currently has an average rating of "Hold" and a consensus target price of $45.67.

OGE Energy Company 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.