Boston Partners Acquires 258,989 Shares of OGE Energy Corp. (NYSE:OGE)

Boston Partners raised its position in OGE Energy Corp. (NYSE:OGE) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,182,795 shares of the utilities provider’s stock after buying an additional 258,989 shares during the period. Boston Partners owned 2.08% of OGE Energy worth $172,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GWN Securities Inc. acquired a new position in OGE Energy in the fourth quarter valued at about $436,000. Envestnet Portfolio Solutions Inc. acquired a new position in OGE Energy in the fourth quarter valued at about $204,000. Midwest Professional Planners LTD. boosted its position in OGE Energy by 4.1% in the fourth quarter. Midwest Professional Planners LTD. now owns 23,485 shares of the utilities provider’s stock valued at $969,000 after buying an additional 935 shares in the last quarter. Vestcor Inc acquired a new position in OGE Energy in the fourth quarter valued at about $329,000. Finally, Swiss National Bank boosted its position in OGE Energy by 0.9% in the fourth quarter. Swiss National Bank now owns 395,000 shares of the utilities provider’s stock valued at $16,294,000 after buying an additional 3,600 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE opened at $44.78 on Wednesday. OGE Energy Corp. has a one year low of $32.37 and a one 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. The company’s 50 day simple moving average is $43.37 and its 200-day simple moving average is $42.05. The stock has a market capitalization of $9.01 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70.

OGE Energy Dividend Announcement

The business 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. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.76%. OGE Energy’s dividend payout ratio (DPR) is currently 76.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OGE shares. Evercore ISI upgraded shares of 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 report on Tuesday, January 21st. Barclays upped their target price on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $45.67.

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.