Inspire Advisors LLC Decreases Position in OGE Energy Corp. (NYSE:OGE)

Inspire Advisors LLC trimmed its position in OGE Energy Corp. (NYSE:OGE) by 7.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 46,517 shares of the utilities provider’s stock after selling 3,866 shares during the period. Inspire Advisors LLC’s holdings in OGE Energy were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Johnson Investment Counsel Inc. increased its position in shares of OGE Energy by 11.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 6,691 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 667 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of OGE Energy by 10.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,431 shares of the utilities provider’s stock valued at $2,039,000 after acquiring an additional 4,567 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of OGE Energy by 9.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 16,045 shares of the utilities provider’s stock valued at $662,000 after acquiring an additional 1,390 shares during the period. Raymond James Financial Inc. acquired a new position in shares of OGE Energy in the 4th quarter valued at $11,862,000. Finally, Arizona State Retirement System increased its position in shares of OGE Energy by 1.0% in the 4th quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider’s stock valued at $2,405,000 after acquiring an additional 549 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Price Performance

Shares of OGE opened at $44.31 on Tuesday. The business’s 50-day moving average is $42.88 and its two-hundred day moving average is $41.80. The company has a market capitalization of $8.92 billion, a P/E ratio of 20.14, a P/E/G ratio of 3.30 and a beta of 0.70. 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 fifty-two week low of $32.37 and a fifty-two week high of $46.54.

OGE Energy Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.80%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is currently 76.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays upped their target price 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. 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 research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.