Ashton Thomas Private Wealth LLC Grows Stock Position in OGE Energy Corp. (NYSE:OGE)

Ashton Thomas Private Wealth LLC boosted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,045 shares of the utilities provider’s stock after buying an additional 1,390 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in OGE Energy were worth $662,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of OGE Energy in the 4th quarter valued at $11,862,000. Arizona State Retirement System lifted its stake in OGE Energy by 1.0% in the fourth quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider’s stock valued at $2,405,000 after buying an additional 549 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $1,800,000. Assetmark Inc. boosted its holdings in shares of OGE Energy by 4.7% in the fourth quarter. Assetmark Inc. now owns 362,601 shares of the utilities provider’s stock valued at $14,957,000 after acquiring an additional 16,244 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of OGE Energy by 59.4% in the 4th quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider’s stock valued at $22,667,000 after acquiring an additional 204,837 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Up 0.9 %

Shares of OGE Energy stock opened at $44.31 on Tuesday. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.54. The company has a market cap of $8.92 billion, a P/E ratio of 20.14, a PEG ratio of 3.30 and a beta of 0.70. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The firm has a fifty day moving average of $42.88 and a two-hundred day moving average of $41.80.

OGE Energy Dividend Announcement

The company also recently declared 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 of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.80%. OGE Energy’s dividend payout ratio is currently 76.36%.

Analyst Ratings Changes

A number of research analysts have commented on OGE shares. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays upped their price objective on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, OGE Energy presently has an average rating of “Hold” and a consensus 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.