Allianz Asset Management GmbH Increases Stake in OGE Energy Corp. (NYSE:OGE)

Allianz Asset Management GmbH boosted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,230,591 shares of the utilities provider’s stock after acquiring an additional 168,323 shares during the quarter. Allianz Asset Management GmbH’s holdings in OGE Energy were worth $50,762,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Stonebridge Financial Group LLC purchased a new stake in shares of OGE Energy in the fourth quarter valued at approximately $35,000. Principal Securities Inc. increased its position in shares of 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 buying an additional 659 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of OGE Energy in the third quarter valued at approximately $63,000. Mather Group LLC. increased its position 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 valued at $67,000 after buying an additional 279 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of OGE Energy by 185.8% in the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock valued at $77,000 after buying an additional 1,180 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays cut their price objective on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $45.19 on Friday. 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 business’s 50 day moving average price is $42.12 and its 200-day moving average price is $41.37. The firm has a market capitalization of $9.09 billion, a PE ratio of 20.54, a P/E/G ratio of 3.30 and a beta of 0.78. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $45.32.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is presently 76.36%.

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.