Strategic Financial Concepts LLC Invests $8.20 Million in OGE Energy Corp. (NYSE:OGE)

Strategic Financial Concepts LLC bought a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 198,660 shares of the utilities provider's stock, valued at approximately $8,195,000. Strategic Financial Concepts LLC owned 0.10% of OGE Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of OGE Energy by 3,834.0% in the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider's stock worth $30,708,000 after acquiring an additional 729,579 shares during the period. Verition Fund Management LLC raised its position in shares of OGE Energy by 25.2% in the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider's stock worth $54,087,000 after acquiring an additional 265,115 shares during the period. State Street Corp raised its position in shares of OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider's stock worth $280,425,000 after acquiring an additional 185,069 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of OGE Energy by 34.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider's stock worth $24,841,000 after acquiring an additional 154,000 shares during the period. Finally, National Bank of Canada FI acquired a new position in shares of OGE Energy in the third quarter worth about $4,106,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OGE. Evercore ISI upgraded shares of OGE Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays decreased their price objective on shares of OGE Energy from $43.00 to $42.00 and set an "equal weight" rating for the company in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.00.

OGE Energy Price Performance

Shares of OGE stock traded down $0.02 on Wednesday, reaching $43.38. 578,612 shares of the company were exchanged, compared to its average volume of 857,108. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 3.18 and a beta of 0.78. The business has a 50-day moving average price of $41.86 and a 200 day moving average price of $41.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. OGE Energy Corp. has a 1 year low of $32.06 and a 1 year high of $44.41.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 3.88%. OGE Energy's dividend payout ratio is presently 87.05%.

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.