Advisors Asset Management Inc. Trims Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Advisors Asset Management Inc. cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,585 shares of the utilities provider’s stock after selling 4,113 shares during the period. Advisors Asset Management Inc.’s holdings in OGE Energy were worth $3,572,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in OGE Energy during the 4th quarter worth $35,000. Principal Securities Inc. grew its holdings in shares of OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after buying an additional 659 shares during the last quarter. BankPlus Trust Department acquired a new position in OGE Energy in the 4th quarter valued at about $44,000. Mather Group LLC. lifted its position in OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 279 shares during the period. Finally, Allworth Financial LP grew its stake in shares of OGE Energy by 185.8% in the 4th quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 1,180 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Price Performance

Shares of NYSE OGE opened at $45.31 on Friday. 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 Corp. has a one year low of $32.37 and a one year high of $46.54. The firm has a market capitalization of $9.12 billion, a P/E ratio of 20.60, a PEG ratio of 3.30 and a beta of 0.70. The company’s fifty day moving average is $43.54 and its two-hundred day moving average is $42.09.

OGE Energy Announces Dividend

The business 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 dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.72%. OGE Energy’s payout ratio is currently 76.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OGE shares. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays lifted their target price on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Monday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.