Summit Global Investments Purchases Shares of 16,525 OGE Energy Corp. (NYSE:OGE)

Summit Global Investments bought a new stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,525 shares of the utilities provider's stock, valued at approximately $682,000.

Other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. raised its holdings in OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock valued at $67,000 after acquiring an additional 279 shares in the last quarter. CIBC Asset Management Inc boosted its stake in OGE Energy by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after purchasing an additional 295 shares in the last quarter. Gries Financial LLC increased its position in OGE Energy by 1.7% in the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider's stock valued at $1,274,000 after acquiring an additional 514 shares in the last quarter. UMB Bank n.a. raised its position in OGE Energy by 6.7% in the 4th quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider's stock worth $339,000 after purchasing an additional 515 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of OGE Energy by 1.0% during the fourth quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider's stock worth $2,405,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OGE. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research note on Monday, March 17th. Barclays raised their target price 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, Evercore ISI raised shares of 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $45.67.

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OGE Energy Trading Up 0.5 %

Shares of OGE Energy stock traded up $0.21 during midday trading on Thursday, reaching $45.04. The company had a trading volume of 998,088 shares, compared to its average volume of 1,126,945. The firm has a market cap of $9.07 billion, a PE ratio of 20.47, a P/E/G ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $46.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The stock has a fifty day moving average price of $43.89 and a 200 day moving average price of $42.25.

OGE Energy Dividend Announcement

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