Choreo LLC Lowers Holdings in OGE Energy Corp. (NYSE:OGE)

Choreo LLC reduced its stake in OGE Energy Corp. (NYSE:OGE) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,633 shares of the utilities provider’s stock after selling 785 shares during the period. Choreo LLC’s holdings in OGE Energy were worth $521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OGE. V Square Quantitative Management LLC bought a new position in OGE Energy in the 3rd quarter worth about $30,000. Fortitude Family Office LLC purchased a new position in OGE Energy in the third quarter worth about $63,000. Mather Group LLC. lifted its stake 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 worth $67,000 after buying an additional 279 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of OGE Energy during the fourth quarter valued at approximately $80,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of OGE Energy during the third quarter valued at approximately $134,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 1.4 %

Shares of OGE Energy stock opened at $43.44 on Wednesday. OGE Energy Corp. has a twelve month low of $32.06 and a twelve month high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $41.86 and its 200 day moving average is $41.11. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 3.18 and a beta of 0.78.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 3.88%. OGE Energy’s payout ratio is 87.05%.

Analyst Ratings Changes

Several research firms recently issued reports on OGE. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays decreased their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

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.