Norges Bank acquired a new stake in OGE Energy Corp. (NYSE:OGE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,669,722 shares of the utilities provider's stock, valued at approximately $68,876,000. Norges Bank owned 0.83% of OGE Energy at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. boosted its position in OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock valued at $67,000 after buying an additional 279 shares during the period. CIBC Asset Management Inc raised its stake in shares of OGE Energy by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after acquiring an additional 295 shares in the last quarter. Gries Financial LLC boosted its holdings in OGE Energy by 1.7% in the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider's stock valued at $1,274,000 after purchasing an additional 514 shares during the period. UMB Bank n.a. grew its stake in OGE Energy by 6.7% during the 4th quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock worth $339,000 after purchasing an additional 515 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in OGE Energy by 1.0% during the 4th quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider's stock worth $2,405,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.
OGE Energy Stock Down 0.0 %
OGE Energy stock traded down $0.01 during mid-day trading on Tuesday, hitting $42.23. The company had a trading volume of 1,489,192 shares, compared to its average volume of 1,171,560. 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 Corp. has a 1 year low of $32.37 and a 1 year high of $46.91. The business has a fifty day moving average of $44.27 and a 200 day moving average of $42.54. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 3.30 and a beta of 0.57.
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 dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.99%. OGE Energy's dividend payout ratio is currently 76.36%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on OGE shares. Evercore ISI raised shares of 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 boosted their target price on shares of OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note 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 stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.67.
Check Out Our Latest Stock Analysis on OGE Energy
About OGE Energy
(
Free Report)
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.
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