Retirement Investment Advisors Inc. Cuts Stake in OGE Energy Corp. (NYSE:OGE)

Retirement Investment Advisors Inc. reduced its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,531 shares of the utilities provider’s stock after selling 1,368 shares during the period. Retirement Investment Advisors Inc.’s holdings in OGE Energy were worth $558,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in OGE Energy during the 4th quarter valued at $68,876,000. Raymond James Financial Inc. purchased a new position in shares of OGE Energy in the fourth quarter valued at about $11,862,000. Boston Partners raised its stake in shares of OGE Energy by 6.6% during the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock valued at $172,554,000 after acquiring an additional 258,989 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of OGE Energy by 11.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,089,289 shares of the utilities provider’s stock worth $86,183,000 after purchasing an additional 218,509 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of OGE Energy by 59.4% in the fourth quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider’s stock worth $22,667,000 after purchasing an additional 204,837 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE stock opened at $45.49 on Friday. The company’s fifty day moving average price is $44.01 and its 200-day moving average price is $42.33. The stock has a market cap of $9.16 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12 month low of $32.37 and a 12 month high of $46.54.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays lifted their target price on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Finally, LADENBURG THALM/SH SH upgraded shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.