Magellan Asset Management Ltd Trims Position in OGE Energy Corp. (NYSE:OGE)

Magellan Asset Management Ltd decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,819 shares of the utilities provider’s stock after selling 27,562 shares during the quarter. Magellan Asset Management Ltd’s holdings in OGE Energy were worth $6,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OGE. Headlands Technologies LLC acquired a new position in OGE Energy in the 4th quarter valued at about $27,000. Stonebridge Financial Group LLC acquired a new position in OGE Energy in the fourth quarter valued at approximately $35,000. Principal Securities Inc. lifted its holdings in OGE Energy by 204.7% in the fourth 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 last quarter. BankPlus Trust Department purchased a new position in OGE Energy in the fourth quarter worth approximately $44,000. Finally, Lee Danner & Bass Inc. acquired a new stake in OGE Energy during the fourth quarter worth $45,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. 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 note on Tuesday, February 25th. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $45.67.

OGE Energy Stock Up 0.6 %

Shares of NYSE:OGE opened at $46.41 on Thursday. The firm has a market capitalization of $9.34 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $46.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The firm’s 50-day moving average is $44.21 and its two-hundred day moving average is $42.45.

OGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.63%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

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.