State of Tennessee Department of Treasury Lowers Stock Holdings in OGE Energy Corp. (NYSE:OGE)

State of Tennessee Department of Treasury lessened its holdings in OGE Energy Corp. (NYSE:OGE) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,120 shares of the utilities provider’s stock after selling 1,583 shares during the period. State of Tennessee Department of Treasury’s holdings in OGE Energy were worth $2,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OGE. Headlands Technologies LLC purchased a new stake in OGE Energy during the fourth quarter valued at approximately $27,000. Bessemer Group Inc. increased its stake in shares of OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 361 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of OGE Energy in the fourth quarter worth $35,000. Principal Securities Inc. increased its stake in shares of OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 659 shares during the period. Finally, BankPlus Trust Department acquired a new stake in OGE Energy during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OGE. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their price target for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays upped their price target on OGE Energy from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, April 11th. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, OGE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $46.25.

OGE Energy Stock Up 1.5 %

Shares of NYSE OGE opened at $45.53 on Tuesday. The stock has a market cap of $9.17 billion, a P/E ratio of 20.70, a PEG ratio of 3.30 and a beta of 0.57. 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 $33.98 and a 12-month high of $46.91. The business’s fifty day simple moving average is $44.72 and its 200-day simple moving average is $42.96.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Monday, April 7th. OGE Energy’s payout ratio is 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.