ING Groep NV Sells 6,793 Shares of OGE Energy Corp. (NYSE:OGE)

ING Groep NV lowered its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,407 shares of the utilities provider's stock after selling 6,793 shares during the quarter. ING Groep NV's holdings in OGE Energy were worth $3,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OGE. International Assets Investment Management LLC boosted its position in OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider's stock worth $30,708,000 after acquiring an additional 729,579 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of OGE Energy by 25.2% in the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider's stock worth $54,087,000 after purchasing an additional 265,115 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in OGE Energy during the fourth quarter worth $8,195,000. State Street Corp grew its position in OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock valued at $280,425,000 after purchasing an additional 185,069 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in OGE Energy by 34.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider's stock valued at $24,841,000 after buying an additional 154,000 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Stock Performance

OGE stock traded up $0.14 during midday trading on Wednesday, reaching $45.40. 1,566,225 shares of the company were exchanged, compared to its average volume of 951,178. OGE Energy Corp. has a one year low of $32.37 and a one year high of $45.69. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78. The business has a 50-day moving average price of $42.25 and a two-hundred day moving average price of $41.47. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51.

OGE Energy Dividend Announcement

The business 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 3.71%. OGE Energy's dividend payout ratio (DPR) is currently 76.36%.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of recent research reports. Evercore ISI upgraded shares of OGE Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, OGE Energy currently has an average rating of "Hold" and a consensus price target 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.