OGE Energy Corp. (NYSE:OGE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 460,718 shares of the utilities provider’s stock after selling 4,209 shares during the quarter. Principal Financial Group Inc. owned 0.23% of OGE Energy worth $19,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in shares of OGE Energy during the fourth quarter worth $35,000. Principal Securities Inc. grew its position in OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 659 shares during the period. Fortitude Family Office LLC purchased a new position in shares of OGE Energy during the 3rd quarter valued at about $63,000. Mather Group LLC. lifted its holdings in shares of 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 buying an additional 279 shares during the period. Finally, Allworth Financial LP boosted its stake 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 worth $77,000 after buying an additional 1,180 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

NYSE:OGE opened at $45.15 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a market capitalization of $9.08 billion, a PE ratio of 20.52, a P/E/G ratio of 3.30 and a beta of 0.78. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $45.60. The company has a fifty day moving average of $42.18 and a two-hundred day moving average of $41.43.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 yield of 3.73%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio is presently 76.36%.

Wall Street Analyst Weigh In

OGE has been the topic of a number of recent analyst reports. Evercore ISI raised shares of 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 report on Tuesday, January 21st. Barclays dropped their target price on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus target price 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.