ExodusPoint Capital Management LP Lowers Holdings in OGE Energy Corp. (NYSE:OGE)

ExodusPoint Capital Management LP reduced its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 861,851 shares of the utilities provider’s stock after selling 366,455 shares during the period. ExodusPoint Capital Management LP owned about 0.43% of OGE Energy worth $35,551,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in OGE. Norges Bank purchased a new stake in OGE Energy during the 4th quarter worth about $68,876,000. Raymond James Financial Inc. purchased a new stake in shares of OGE Energy during the fourth quarter worth approximately $11,862,000. Boston Partners raised its holdings in shares of OGE Energy by 6.6% in the 4th quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock valued at $172,554,000 after purchasing an additional 258,989 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake 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 in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in OGE Energy by 59.4% in the fourth quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider’s stock valued at $22,667,000 after purchasing an additional 204,837 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE stock opened at $46.41 on Thursday. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 21.10, a PEG 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. The firm has a 50 day moving average of $44.21 and a 200-day moving average of $42.45. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.54.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is currently 76.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays raised their price target on OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research report on Monday, March 17th. Finally, Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, OGE Energy has an average rating of “Hold” and an average price target of $45.67.

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.