Envestnet Portfolio Solutions Inc. Acquires New Stake in OGE Energy Corp. (NYSE:OGE)

Envestnet Portfolio Solutions Inc. bought a new position in OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,934 shares of the utilities provider’s stock, valued at approximately $204,000.

Other institutional investors have also added to or reduced their stakes in the company. Midwest Professional Planners LTD. grew its position in OGE Energy by 4.1% during the fourth quarter. Midwest Professional Planners LTD. now owns 23,485 shares of the utilities provider’s stock valued at $969,000 after buying an additional 935 shares during the period. Vestcor Inc purchased a new position in OGE Energy in the 4th quarter worth approximately $329,000. Swiss National Bank grew its stake in OGE Energy by 0.9% during the fourth quarter. Swiss National Bank now owns 395,000 shares of the utilities provider’s stock valued at $16,294,000 after acquiring an additional 3,600 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of OGE Energy by 219.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,121 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 2,144 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in OGE Energy by 11.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 6,691 shares of the utilities provider’s stock valued at $276,000 after buying an additional 667 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $45.49 on Friday. OGE Energy Corp. has a 52 week low of $32.37 and a 52 week high of $46.54. The company has a market capitalization of $9.16 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The stock’s fifty day moving average is $44.01 and its two-hundred day moving average is $42.31. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.70%. OGE Energy’s payout ratio is 76.36%.

Wall Street Analyst Weigh In

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

OGE Energy Company 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.