JPMorgan Chase & Co. lessened its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 7.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 947,332 shares of the utilities provider's stock after selling 73,623 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.47% of OGE Energy worth $39,077,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of OGE. Elo Mutual Pension Insurance Co bought a new position in OGE Energy in the 4th quarter worth about $458,000. EntryPoint Capital LLC bought a new position in OGE Energy in the fourth quarter worth approximately $262,000. Lynx Investment Advisory increased its holdings in OGE Energy by 32.0% during the 4th quarter. Lynx Investment Advisory now owns 14,986 shares of the utilities provider's stock worth $618,000 after purchasing an additional 3,634 shares during the period. Vanguard Group Inc. increased its holdings in OGE Energy by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider's stock worth $883,311,000 after purchasing an additional 203,129 shares during the period. Finally, LPL Financial LLC raised its position in OGE Energy by 4.3% during the 4th quarter. LPL Financial LLC now owns 201,539 shares of the utilities provider's stock valued at $8,313,000 after purchasing an additional 8,293 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.
OGE Energy Stock Up 2.0 %
OGE traded up $0.85 on Friday, hitting $44.14. The company had a trading volume of 958,005 shares, compared to its average volume of 1,172,955. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 3.30 and a beta of 0.57. 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 fifty day moving average price of $44.37 and a 200-day moving average price of $42.60. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.91.
OGE Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.82%. OGE Energy's payout ratio is 76.36%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. 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 report on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Monday, March 17th. Finally, Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.00.
Check Out Our Latest Report 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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