Resona Asset Management Co. Ltd. Acquires New Stake in OGE Energy Corp. (NYSE:OGE)

Resona Asset Management Co. Ltd. acquired a new position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,637 shares of the utilities provider's stock, valued at approximately $934,000.

Several other hedge funds also recently made changes to their positions in OGE. Headlands Technologies LLC bought a new position in OGE Energy during the fourth quarter worth about $27,000. Stonebridge Financial Group LLC acquired a new stake in OGE Energy during the fourth quarter worth approximately $35,000. Principal Securities Inc. increased its position in shares of OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after purchasing an additional 659 shares during the period. BankPlus Trust Department acquired a new stake in OGE Energy during the fourth quarter worth about $44,000. Finally, Lee Danner & Bass Inc. bought a new position in OGE Energy in the fourth quarter valued at approximately $45,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Trading Up 0.9 %

Shares of OGE traded up $0.40 during mid-day trading on Wednesday, reaching $45.18. The company's stock had a trading volume of 104,777 shares, compared to its average volume of 1,243,593. The company's fifty day moving average price is $44.45 and its two-hundred day moving average price is $42.66. OGE Energy Corp. has a 52 week low of $32.49 and a 52 week high of $46.91. The stock has a market cap of $9.10 billion, a PE ratio of 20.53, a P/E/G ratio of 3.30 and a beta of 0.57. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08.

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OGE Energy Dividend Announcement

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

Analyst Ratings Changes

OGE has been the topic of a number of recent research reports. Evercore ISI upgraded 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 report on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Monday, March 17th. Barclays raised their price target 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. Finally, Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.00.

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.