Lee Danner & Bass Inc. Takes $45,000 Position in OGE Energy Corp. (NYSE:OGE)

Lee Danner & Bass Inc. purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,100 shares of the utilities provider’s stock, valued at approximately $45,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of OGE Energy by 16.3% in the third quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after buying an additional 78,164 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of OGE Energy in the third quarter worth approximately $783,000. BNP Paribas Financial Markets boosted its holdings in shares of OGE Energy by 316.6% in the third quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after buying an additional 26,411 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of OGE Energy by 14.2% in the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after buying an additional 810 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings 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 purchasing an additional 43,529 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Down 0.7 %

OGE stock opened at $44.95 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.73 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 $46.54. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The firm’s fifty day simple moving average is $43.65 and its two-hundred day simple moving average is $42.15.

OGE Energy Dividend Announcement

The company also recently disclosed 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. This represents a $1.69 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

Wall Street Analysts Forecast Growth

OGE has been the topic of several analyst reports. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. 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 report on Tuesday, February 25th. Finally, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.67.

OGE Energy 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.