Royal London Asset Management Ltd. Sells 23,428 Shares of OGE Energy Corp. (NYSE:OGE)

Royal London Asset Management Ltd. lowered its position in shares of OGE Energy Corp. (NYSE:OGE) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 608,931 shares of the utilities provider’s stock after selling 23,428 shares during the quarter. Royal London Asset Management Ltd.’s holdings in OGE Energy were worth $25,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. grew its stake in shares of OGE Energy by 20.9% during the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares during the period. CIBC Asset Management Inc grew its stake in shares of OGE Energy by 5.1% during 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 during the period. Gries Financial LLC grew its stake in shares of OGE Energy by 1.7% during the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock worth $1,274,000 after purchasing an additional 514 shares during the period. UMB Bank n.a. grew its stake in shares of OGE Energy by 6.7% during the fourth 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 period. Finally, Arizona State Retirement System grew its stake 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 purchasing an additional 549 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Down 0.7 %

NYSE:OGE opened at $44.95 on Friday. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $46.54. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock 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. The stock has a 50-day moving average price of $43.65 and a two-hundred day moving average price of $42.13.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.75%. OGE Energy’s payout ratio is 76.36%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OGE shares. Barclays lifted their price objective on OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research note on Monday, March 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.