Commonwealth Equity Services LLC Cuts Position in OGE Energy Corp. (NYSE:OGE)

Commonwealth Equity Services LLC lessened its holdings in OGE Energy Corp. (NYSE:OGE) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 152,736 shares of the utilities provider’s stock after selling 3,261 shares during the quarter. Commonwealth Equity Services LLC’s holdings in OGE Energy were worth $6,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in shares of OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after purchasing an additional 185,069 shares in the last quarter. Geode Capital Management LLC boosted its holdings in OGE Energy by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock worth $137,433,000 after buying an additional 40,733 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in OGE Energy by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,350,343 shares of the utilities provider’s stock worth $55,702,000 after buying an additional 10,510 shares during the last quarter. Verition Fund Management LLC boosted its holdings in OGE Energy by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after buying an additional 265,115 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in OGE Energy by 15.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,230,591 shares of the utilities provider’s stock worth $50,762,000 after buying an additional 168,323 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports 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 report on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a report on Monday, March 17th. Finally, Evercore ISI upgraded 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 report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.67.

OGE Energy Trading Down 0.7 %

Shares of OGE Energy stock opened at $44.95 on Friday. The stock has a market cap of $9.05 billion, a P/E ratio of 20.43, a P/E/G ratio of 3.30 and a beta of 0.70. The stock’s 50 day simple moving average is $43.65 and its 200-day simple moving average is $42.13. OGE Energy Corp. has a 1-year low of $32.37 and a 1-year high of $46.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be issued 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 of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio is currently 76.36%.

About OGE Energy

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.