Summit Global Investments Invests $682,000 in OGE Energy Corp. (NYSE:OGE)

Summit Global Investments purchased a new stake in OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,525 shares of the utilities provider’s stock, valued at approximately $682,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. increased its position 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 during the period. CIBC Asset Management Inc increased its position in OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 295 shares during the period. 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 during the period. UMB Bank n.a. increased 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 valued at $339,000 after acquiring an additional 515 shares during the period. Finally, Arizona State Retirement System increased its position in OGE Energy by 1.0% in the 4th quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider’s stock valued at $2,405,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Ratings Changes

OGE has been the topic of several recent research reports. Barclays boosted their price target on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research report on Monday, March 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy has an average rating of “Hold” and an average price target of $45.67.

OGE Energy Stock Performance

NYSE OGE opened at $44.95 on Monday. 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 business’s 50 day moving average is $43.65 and its two-hundred day moving average is $42.16. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.54. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.30 and a beta of 0.70.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

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.