Parallel Advisors LLC Decreases Stake in OGE Energy Corp. (NYSE:OGE)

Parallel Advisors LLC cut its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,539 shares of the utilities provider's stock after selling 7,446 shares during the quarter. Parallel Advisors LLC's holdings in OGE Energy were worth $435,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of OGE Energy during the fourth quarter valued at $11,862,000. Verition Fund Management LLC grew its stake 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 purchasing an additional 265,115 shares during the last quarter. Victory Capital Management Inc. increased 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 valued at $22,667,000 after purchasing an additional 204,837 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of OGE Energy in the fourth quarter worth about $8,195,000. Finally, State Street Corp lifted 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 during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of OGE Energy stock traded up $0.49 on Wednesday, reaching $44.83. The company's stock had a trading volume of 1,022,193 shares, compared to its average volume of 1,129,904. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54. The company has a market capitalization of $9.02 billion, a P/E ratio of 20.38, a PEG ratio of 3.30 and a beta of 0.70. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average price of $43.82 and a 200-day moving average price of $42.23.

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OGE Energy Dividend Announcement

The business also recently declared 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 is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.76%. OGE Energy's dividend payout ratio (DPR) is presently 76.36%.

Wall Street Analysts Forecast Growth

OGE has been the subject of several research reports. Evercore ISI upgraded shares of OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Monday, March 17th. Finally, Barclays upped their target price on OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of "Hold" and an average target price of $45.67.

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.