Reaves W H & Co. Inc. Reduces Stock Position in OGE Energy Corp. (NYSE:OGE)

Reaves W H & Co. Inc. lowered its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,225,374 shares of the utilities provider's stock after selling 37,493 shares during the quarter. Reaves W H & Co. Inc. owned about 0.61% of OGE Energy worth $50,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verition Fund Management LLC grew its position in OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider's stock worth $54,087,000 after buying an additional 265,115 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of OGE Energy during the 4th quarter valued at about $8,195,000. State Street Corp grew its holdings in shares of OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock worth $280,425,000 after purchasing an additional 185,069 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of OGE Energy by 15.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,230,591 shares of the utilities provider's stock worth $50,762,000 after purchasing an additional 168,323 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of OGE Energy by 34.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider's stock worth $24,841,000 after purchasing an additional 154,000 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

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Wall Street Analysts Forecast Growth

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

OGE Energy Price Performance

Shares of NYSE OGE traded down $0.20 during trading hours on Friday, reaching $43.86. 1,283,901 shares of the stock traded hands, compared to its average volume of 1,131,519. The company's 50-day simple moving average is $42.83 and its two-hundred day simple moving average is $41.74. The company has a market capitalization of $8.82 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy Announces Dividend

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 given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.84%. OGE Energy's payout ratio is 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.