OGE Energy Corp. (NYSE:OGE) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 26.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,445 shares of the utilities provider’s stock after acquiring an additional 9,307 shares during the period. NewEdge Advisors LLC’s holdings in OGE Energy were worth $1,833,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OGE. Merit Financial Group LLC lifted its holdings in shares of OGE Energy by 14.2% during the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 810 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in OGE Energy by 83.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock valued at $3,947,000 after buying an additional 43,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of OGE Energy in the fourth quarter worth about $252,000. Jones Financial Companies Lllp increased its position in shares of OGE Energy by 38.2% in the fourth quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 6,657 shares in the last quarter. Finally, Inspire Trust Co. N.A. raised its holdings in shares of OGE Energy by 18.8% during the third quarter. Inspire Trust Co. N.A. now owns 107,570 shares of the utilities provider’s stock valued at $4,413,000 after acquiring an additional 17,000 shares during the period. 71.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Monday, March 17th. Argus raised OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Friday, April 11th. Finally, Barclays raised their price objective on OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, OGE Energy has an average rating of “Moderate Buy” and an average target price of $46.25.

OGE Energy Trading Up 2.7 %

NYSE OGE opened at $45.28 on Wednesday. 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 1-year low of $33.46 and a 1-year high of $46.91. The firm’s fifty day simple moving average is $44.61 and its 200-day simple moving average is $42.79. The company has a market capitalization of $9.12 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.72%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is currently 76.36%.

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.