Wells Fargo & Company MN Trims Stake in OGE Energy Corp. (NYSE:OGE)

Wells Fargo & Company MN decreased its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,249 shares of the utilities provider's stock after selling 17,103 shares during the period. Wells Fargo & Company MN owned 0.09% of OGE Energy worth $7,353,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OGE. Forge Financial Services LLC purchased a new position in OGE Energy during the fourth quarter valued at $211,000. Headlands Technologies LLC purchased a new position in shares of OGE Energy in the 4th quarter worth about $27,000. Geode Capital Management LLC boosted its stake in OGE Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider's stock worth $138,845,000 after purchasing an additional 15,415 shares in the last quarter. Diametric Capital LP bought a new position in OGE Energy in the 4th quarter worth about $231,000. Finally, O Shaughnessy Asset Management LLC grew its position in OGE Energy by 37.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,088 shares of the utilities provider's stock valued at $787,000 after purchasing an additional 5,182 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of NYSE:OGE traded up $0.17 during trading on Thursday, hitting $45.21. 125,441 shares of the company's stock were exchanged, compared to its average volume of 1,154,081. The business's 50-day simple moving average is $44.64 and its 200 day simple moving average is $42.81. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.30 and a beta of 0.57. OGE Energy Corp. has a 52-week low of $33.46 and a 52-week high of $46.91. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's dividend payout ratio is presently 76.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OGE. Barclays boosted their price objective on shares of OGE Energy from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Tuesday. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Tuesday. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research report on Friday, April 11th. Finally, Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, OGE Energy presently has an average rating of "Moderate Buy" and an average price target of $46.25.

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.