Prudential Financial Inc. Has $654,000 Holdings in OGE Energy Corp. (NYSE:OGE)

Prudential Financial Inc. reduced its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,276 shares of the utilities provider's stock after selling 10,398 shares during the quarter. Prudential Financial Inc.'s holdings in OGE Energy were worth $654,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. FMR LLC grew its stake in OGE Energy by 16.3% in the third quarter. FMR LLC now owns 558,967 shares of the utilities provider's stock valued at $22,929,000 after purchasing an additional 78,164 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of OGE Energy by 14.2% in the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider's stock valued at $268,000 after buying an additional 810 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in OGE Energy by 83.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider's stock worth $3,947,000 after buying an additional 43,529 shares during the last quarter. State Street Corp raised its position in OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock valued at $280,425,000 after acquiring an additional 185,069 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in OGE Energy in the fourth quarter valued at approximately $252,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OGE shares. Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research note on Friday. 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 research report on Tuesday, February 25th. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.00.

OGE Energy Stock Performance

NYSE:OGE traded up $0.85 during midday trading on Friday, reaching $44.14. The stock had a trading volume of 958,005 shares, compared to its average volume of 1,173,631. The stock has a market capitalization of $8.89 billion, a P/E ratio of 20.06, a PEG 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 1-year low of $32.37 and a 1-year high of $46.91. The firm's fifty day simple moving average is $44.37 and its 200-day simple moving average is $42.62.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy's 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.