OGE Energy Corp. (NYSE:OGE) Shares Acquired by Greenland Capital Management LP

Greenland Capital Management LP grew its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 141.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,840 shares of the utilities provider's stock after acquiring an additional 33,840 shares during the period. Greenland Capital Management LP's holdings in OGE Energy were worth $2,386,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OGE. Headlands Technologies LLC acquired a new position in OGE Energy during the fourth quarter worth $27,000. Stonebridge Financial Group LLC acquired a new position in shares of OGE Energy during the 4th quarter worth $35,000. Principal Securities Inc. boosted its position in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after buying an additional 659 shares in the last quarter. BankPlus Trust Department acquired a new stake in OGE Energy in the 4th quarter valued at about $44,000. Finally, Lee Danner & Bass Inc. purchased a new position in OGE Energy during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 2.0 %

OGE traded up $0.85 during trading on Friday, hitting $44.14. The company's stock had a trading volume of 958,005 shares, compared to its average volume of 1,173,631. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.91. The firm's 50 day moving average price is $44.37 and its 200-day moving average price is $42.62. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The stock has a market cap of $8.89 billion, a PE ratio of 20.06, a PEG ratio of 3.30 and a beta of 0.57.

Remove Ads

OGE Energy Dividend Announcement

The firm also recently declared 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. This represents a $1.69 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's payout ratio is 76.36%.

Analysts Set New Price Targets

Several brokerages have issued reports on OGE. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a report on Monday, March 17th. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Friday. Barclays raised their price target on OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 25th. Finally, Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.00.

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.