Jones Financial Companies Lllp Increases Stock Position in OGE Energy Corp. (NYSE:OGE)

Jones Financial Companies Lllp grew its position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,085 shares of the utilities provider's stock after purchasing an additional 6,657 shares during the period. Jones Financial Companies Lllp's holdings in OGE Energy were worth $993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OGE. Verition Fund Management LLC boosted its stake in shares of OGE Energy by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider's stock valued at $54,087,000 after buying an additional 265,115 shares during the period. Strategic Financial Concepts LLC purchased a new position in OGE Energy in the fourth quarter valued at $8,195,000. State Street Corp boosted its position in shares of OGE Energy by 2.8% during the 3rd 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 in the last quarter. Allianz Asset Management GmbH raised its position in shares of OGE Energy by 15.8% during the 4th quarter. Allianz Asset Management GmbH now owns 1,230,591 shares of the utilities provider's stock worth $50,762,000 after acquiring an additional 168,323 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in OGE Energy by 34.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider's stock worth $24,841,000 after purchasing an additional 154,000 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

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OGE Energy Stock Performance

OGE stock traded up $0.45 on Wednesday, hitting $44.52. The company's stock had a trading volume of 835,000 shares, compared to its average volume of 1,131,349. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $46.54. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The firm has a 50 day moving average of $43.00 and a two-hundred day moving average of $41.87.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.79%. OGE Energy's dividend payout ratio (DPR) is currently 76.36%.

Analysts Set New Price Targets

OGE has been the topic of several recent analyst reports. Barclays increased their price target on shares of OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 25th. Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and increased their target price for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.