Miller Howard Investments Inc. NY Trims Stake in OGE Energy Corp. (NYSE:OGE)

Miller Howard Investments Inc. NY reduced its stake in OGE Energy Corp. (NYSE:OGE) by 18.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 712,213 shares of the utilities provider’s stock after selling 156,331 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in OGE Energy were worth $29,379,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in shares of OGE Energy during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of OGE Energy in the third quarter worth approximately $63,000. Mather Group LLC. increased its stake in shares of OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of OGE Energy during the 4th quarter valued at $80,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of OGE Energy during the 3rd quarter valued at $134,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

OGE Energy Stock Up 0.5 %

Shares of OGE stock opened at $42.70 on Friday. The company’s fifty day simple moving average is $41.84 and its two-hundred day simple moving average is $40.99. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $44.41. The stock has a market cap of $8.58 billion, a P/E ratio of 22.13, a PEG ratio of 3.18 and a beta of 0.78. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Monday, January 6th. OGE Energy’s payout ratio is presently 87.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OGE shares. Barclays cut their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.00.

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.