Alliancebernstein L.P. Reduces Position in OGE Energy Corp. (NYSE:OGE)

Alliancebernstein L.P. decreased its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,903 shares of the utilities provider’s stock after selling 3,543 shares during the quarter. Alliancebernstein L.P. owned about 0.13% of OGE Energy worth $11,133,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. O Shaughnessy Asset Management LLC grew its holdings in shares of OGE Energy by 37.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,088 shares of the utilities provider’s stock worth $787,000 after buying an additional 5,182 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of OGE Energy by 1.6% during the fourth quarter. California Public Employees Retirement System now owns 958,378 shares of the utilities provider’s stock worth $39,533,000 after buying an additional 15,124 shares in the last quarter. Hartree Partners LP purchased a new stake in shares of OGE Energy during the fourth quarter worth $483,000. Pictet Asset Management Holding SA grew its holdings in shares of OGE Energy by 12.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 33,029 shares of the utilities provider’s stock worth $1,362,000 after buying an additional 3,559 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its holdings in shares of OGE Energy by 11.7% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,089,289 shares of the utilities provider’s stock valued at $86,183,000 after purchasing an additional 218,509 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Up 3.0 %

OGE stock opened at $43.50 on Thursday. 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 twelve month low of $32.37 and a twelve month high of $46.91. The company’s 50 day moving average is $44.31 and its two-hundred day moving average is $42.56. The stock has a market cap of $8.76 billion, a P/E ratio of 19.77, a PEG ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The business 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 dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.87%. OGE Energy’s payout ratio is currently 76.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OGE. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. Barclays increased their price target 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. Finally, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.