Vestcor Inc Acquires Shares of 7,981 OGE Energy Corp. (NYSE:OGE)

Vestcor Inc purchased a new position in OGE Energy Corp. (NYSE:OGE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,981 shares of the utilities provider's stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in OGE Energy in the 4th quarter valued at $11,862,000. Verition Fund Management LLC lifted its position in OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider's stock worth $54,087,000 after buying an additional 265,115 shares during the period. Victory Capital Management Inc. boosted its stake in OGE Energy by 59.4% in the 4th quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider's stock worth $22,667,000 after buying an additional 204,837 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in OGE Energy in the 4th quarter valued at about $8,195,000. Finally, State Street Corp increased its stake in shares of OGE Energy by 2.8% during the 3rd 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 during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Down 0.7 %

OGE Energy stock traded down $0.31 during trading on Friday, reaching $44.95. 3,377,872 shares of the company's stock were exchanged, compared to its average volume of 1,131,823. The company's 50-day moving average is $43.54 and its two-hundred day moving average is $42.09. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.30 and a beta of 0.70.

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OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 annualized dividend and a dividend yield of 3.75%. OGE Energy's payout ratio is currently 76.36%.

Wall Street Analyst Weigh In

OGE has been the topic of several research analyst reports. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Monday. Evercore ISI upgraded shares of OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Barclays upped their price objective on OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, OGE Energy presently 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.