Navellier & Associates Inc. Has $980,000 Stake in OGE Energy Corp. (NYSE:OGE)

Navellier & Associates Inc. grew its holdings in OGE Energy Corp. (NYSE:OGE) by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,756 shares of the utilities provider’s stock after purchasing an additional 4,628 shares during the period. Navellier & Associates Inc.’s holdings in OGE Energy were worth $980,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in OGE. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy in the 4th quarter valued at approximately $35,000. Principal Securities Inc. grew its stake in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after buying an additional 659 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of OGE Energy in the 3rd quarter valued at approximately $63,000. Mather Group LLC. grew its stake in shares of 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 buying an additional 279 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of OGE Energy by 185.8% in the 4th quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock valued at $77,000 after buying an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of several recent research reports. Barclays lowered their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

OGE Energy Stock Up 2.0 %

Shares of OGE Energy stock opened at $45.19 on Friday. The stock has a market capitalization of $9.09 billion, a P/E ratio of 20.54, a PEG ratio of 3.30 and a beta of 0.78. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of $42.12 and a two-hundred day moving average price of $41.37. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $45.32.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.73%. OGE Energy’s payout ratio is currently 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.