Magellan Asset Management Ltd Sells 27,562 Shares of OGE Energy Corp. (NYSE:OGE)

Magellan Asset Management Ltd lowered its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,819 shares of the utilities provider's stock after selling 27,562 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of OGE Energy worth $6,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OGE. Mather Group LLC. grew its stake in OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock worth $67,000 after buying an additional 279 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after purchasing an additional 295 shares during the period. Gries Financial LLC increased its position in shares of OGE Energy by 1.7% in the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider's stock worth $1,274,000 after acquiring an additional 514 shares in the last quarter. UMB Bank n.a. raised its position in OGE Energy by 6.7% in the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock valued at $339,000 after purchasing an additional 515 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of OGE Energy by 1.0% during the 4th quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider's stock valued at $2,405,000 after buying an additional 549 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

OGE Energy Trading Up 2.0 %

Shares of NYSE OGE traded up $0.83 during midday trading on Tuesday, hitting $43.07. The stock had a trading volume of 359,527 shares, compared to its average volume of 1,166,403. The firm has a market cap of $8.67 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $46.91. The company's 50-day simple moving average is $44.26 and its 200 day simple moving average is $42.53.

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 $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's dividend payout ratio is presently 76.36%.

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.