HighTower Advisors LLC Has $2.19 Million Stock Position in OGE Energy Corp. (NYSE:OGE)

HighTower Advisors LLC reduced its holdings in OGE Energy Corp. (NYSE:OGE) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 53,050 shares of the utilities provider’s stock after selling 1,237 shares during the quarter. HighTower Advisors LLC’s holdings in OGE Energy were worth $2,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. Raymond James Financial Inc. acquired a new position in OGE Energy in the 4th quarter valued at approximately $11,862,000. Verition Fund Management LLC increased its position in OGE Energy by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after acquiring an additional 265,115 shares during the period. Victory Capital Management Inc. increased its position in OGE Energy by 59.4% in the 4th quarter. Victory Capital Management Inc. now owns 549,491 shares of the utilities provider’s stock valued at $22,667,000 after acquiring an additional 204,837 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of OGE Energy during the fourth quarter worth $8,195,000. Finally, State Street Corp increased its position in shares of OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after buying an additional 185,069 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Trading Down 0.7 %

NYSE:OGE opened at $44.95 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.30 and a beta of 0.70. The firm has a fifty day simple moving average of $43.65 and a two-hundred day simple moving average of $42.15. OGE Energy Corp. has a 12 month low of $32.37 and a 12 month 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 issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is 76.36%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OGE. Barclays increased their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a research report on Monday, March 17th. Finally, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.67.

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.