OGE Energy Corp. (NYSE:OGE) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its position in shares of OGE Energy Corp. (NYSE:OGE) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,819 shares of the utilities provider’s stock after selling 27,562 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.07% of OGE Energy worth $6,015,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OGE. Headlands Technologies LLC purchased a new position in OGE Energy in the fourth quarter valued at $27,000. Stonebridge Financial Group LLC purchased a new position in shares of OGE Energy in the 4th quarter valued at about $35,000. Principal Securities Inc. increased its stake in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 659 shares in the last quarter. BankPlus Trust Department acquired a new position in OGE Energy in the 4th quarter worth about $44,000. Finally, Lee Danner & Bass Inc. acquired a new stake in OGE Energy in the fourth quarter valued at approximately $45,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OGE shares. Barclays lifted their price target on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Evercore ISI raised 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 note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy currently has an average rating of “Hold” and a consensus target price of $45.67.

OGE Energy Trading Up 0.6 %

Shares of OGE stock opened at $46.41 on Thursday. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $46.54. The firm has a market capitalization of $9.34 billion, a P/E ratio of 21.10, a PEG ratio of 3.30 and a beta of 0.70. The stock’s fifty day moving average is $44.21 and its two-hundred day moving average is $42.45. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be given 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 3.63%. OGE Energy’s payout ratio is presently 76.36%.

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.