Dana Investment Advisors Inc. Cuts Stake in OGE Energy Corp. (NYSE:OGE)

Dana Investment Advisors Inc. reduced its position in OGE Energy Corp. (NYSE:OGE) by 11.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 65,548 shares of the utilities provider’s stock after selling 8,565 shares during the period. Dana Investment Advisors Inc.’s holdings in OGE Energy were worth $2,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in OGE Energy in the 4th quarter valued at about $35,000. Principal Securities Inc. raised its stake in 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 acquiring an additional 659 shares during the period. BankPlus Trust Department bought a new stake in OGE Energy in the 4th quarter valued at about $44,000. Mather Group LLC. raised its stake in OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 279 shares during the period. Finally, Allworth Financial LP raised its stake in 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 acquiring an additional 1,180 shares during the period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Trading Down 0.4 %

Shares of OGE opened at $43.86 on Friday. The business’s 50-day moving average price is $42.83 and its 200-day moving average price is $41.74. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.54. The stock has a market cap of $8.82 billion, a PE ratio of 19.93, a P/E/G ratio of 3.30 and a beta of 0.70. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio is presently 76.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OGE. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays upped their price target on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Three 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, the stock currently has a consensus rating of “Hold” and an average target price of $45.67.

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.