Raymond James Financial Inc. Acquires New Position in OGE Energy Corp. (NYSE:OGE)

Raymond James Financial Inc. bought a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 287,554 shares of the utilities provider's stock, valued at approximately $11,862,000. Raymond James Financial Inc. owned 0.14% of OGE Energy as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in OGE Energy during the 4th quarter valued at $35,000. Principal Securities Inc. boosted its position in OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 659 shares in the last quarter. BankPlus Trust Department purchased a new position in OGE Energy in the fourth quarter valued at about $44,000. Mather Group LLC. raised its holdings in OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock worth $67,000 after purchasing an additional 279 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in OGE Energy by 185.8% in the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider's stock valued at $77,000 after acquiring an additional 1,180 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.2 %

OGE stock traded up $0.11 during mid-day trading on Monday, hitting $45.07. 1,566,093 shares of the company were exchanged, compared to its average volume of 1,130,716. The firm has a market capitalization of $9.07 billion, a P/E ratio of 20.48, 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. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.54. The business has a fifty day simple moving average of $43.65 and a 200-day simple moving average of $42.16.

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OGE Energy Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.74%. OGE Energy's dividend payout ratio (DPR) is 76.36%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OGE shares. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a report on Monday, March 17th. Barclays raised their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 25th. Finally, Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, OGE Energy currently has an average rating of "Hold" and a consensus price target 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.