Illinois Municipal Retirement Fund Acquires 8,832 Shares of OGE Energy Corp. (NYSE:OGE)

Illinois Municipal Retirement Fund lifted its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 28.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,350 shares of the utilities provider's stock after purchasing an additional 8,832 shares during the period. Illinois Municipal Retirement Fund's holdings in OGE Energy were worth $1,664,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OGE. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy during the 4th quarter valued at $35,000. Principal Securities Inc. increased its stake in 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 bought a new stake in OGE Energy during the fourth quarter valued at about $44,000. Mather Group LLC. lifted its position in shares of OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock valued at $67,000 after acquiring an additional 279 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of OGE Energy by 185.8% in the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider's stock worth $77,000 after acquiring an additional 1,180 shares during the period. 71.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays lifted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.67.

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OGE Energy Price Performance

Shares of OGE stock traded down $0.58 during trading hours on Tuesday, hitting $45.75. The stock had a trading volume of 535,543 shares, compared to its average volume of 1,126,371. 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 capitalization of $9.20 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 3.30 and a beta of 0.78. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.55. The stock's 50-day moving average price is $42.64 and its two-hundred day moving average price is $41.66.

OGE Energy Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.68%. OGE Energy's dividend payout ratio is currently 76.36%.

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.