HighTower Advisors LLC decreased its position in OGE Energy Corp. (NYSE:OGE) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,835 shares of the utilities provider’s stock after selling 397 shares during the period. HighTower Advisors LLC’s holdings in OGE Energy were worth $1,096,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Freedman Financial Associates Inc. bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $32,000. Allred Capital Management LLC acquired a new stake in OGE Energy during the first quarter worth $44,000. Whittier Trust Co. bought a new stake in OGE Energy in the 1st quarter valued at $65,000. Tompkins Financial Corp lifted its holdings in shares of OGE Energy by 78.6% during the 4th quarter. Tompkins Financial Corp now owns 2,500 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,100 shares during the period. Finally, Captrust Financial Advisors raised its position in OGE Energy by 21.4% in the fourth quarter. Captrust Financial Advisors now owns 5,081 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 897 shares in the last quarter. Institutional investors own 63.93% of the company’s stock.
OGE Energy stock opened at $34.89 on Friday. OGE Energy Corp. has a 52 week low of $28.25 and a 52 week high of $35.24. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 3.67 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $33.57.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Monday, July 12th will be paid a dividend of $0.4025 per share. The ex-dividend date of this dividend is Friday, July 9th. This represents a $1.61 annualized dividend and a dividend yield of 4.61%. OGE Energy’s dividend payout ratio (DPR) is currently 77.40%.
A number of brokerages have recently issued reports on OGE. Barclays raised OGE Energy from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $33.00 to $37.00 in a report on Tuesday, May 25th. Wells Fargo & Company reiterated an “equal weight” rating and set a $34.00 price objective on shares of OGE Energy in a research note on Monday, March 15th. Finally, Bank of America restated a “neutral” rating and issued a $34.00 target price on shares of OGE Energy in a research note on Wednesday, March 17th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $35.00.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south-central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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