Corient Private Wealth LLC Sells 6,493 Shares of OGE Energy Corp. (NYSE:OGE)

Corient Private Wealth LLC lowered its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 29.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,628 shares of the utilities provider's stock after selling 6,493 shares during the period. Corient Private Wealth LLC's holdings in OGE Energy were worth $645,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in OGE Energy during the 4th quarter worth about $11,862,000. Verition Fund Management LLC grew its holdings in OGE Energy by 25.2% during 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 in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of OGE Energy by 59.4% in the fourth quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider's stock worth $22,667,000 after buying an additional 204,837 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of OGE Energy in the fourth quarter valued at approximately $8,195,000. Finally, State Street Corp grew its stake in OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock valued at $280,425,000 after acquiring an additional 185,069 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OGE shares. Barclays increased 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. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Monday, March 17th. Finally, Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and raised their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $45.67.

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OGE Energy Price Performance

OGE traded up $0.28 during trading on Wednesday, reaching $46.41. The stock had a trading volume of 1,057,755 shares, compared to its average volume of 1,166,422. The business has a 50-day moving average of $44.21 and a 200-day moving average of $42.45. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.54. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a market cap of $9.34 billion, a PE ratio of 21.10, a PEG ratio of 3.30 and a beta of 0.70.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued 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 3.63%. OGE Energy's dividend payout ratio is 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.