Truist Financial Corp Sells 276 Shares of OGE Energy Corp. (NYSE:OGE)

Truist Financial Corp trimmed its stake in shares of OGE Energy Corp. (NYSE:OGE) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,184 shares of the utilities provider’s stock after selling 276 shares during the quarter. Truist Financial Corp’s holdings in OGE Energy were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in shares of OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 295 shares during the period. Allworth Financial LP raised its stake in OGE Energy by 185.8% during 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 during the last quarter. Strategic Financial Concepts LLC purchased a new position in OGE Energy during the fourth quarter valued at $8,195,000. Principal Securities Inc. raised its stake in OGE Energy by 204.7% during 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 during the last quarter. Finally, Everhart Financial Group Inc. raised its stake in OGE Energy by 8.0% during the fourth quarter. Everhart Financial Group Inc. now owns 14,463 shares of the utilities provider’s stock valued at $597,000 after buying an additional 1,073 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Performance

NYSE:OGE opened at $46.26 on Friday. The stock has a 50-day simple moving average of $42.54 and a two-hundred day simple moving average of $41.57. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.28. 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 firm has a market capitalization of $9.30 billion, a PE ratio of 21.03, a P/E/G ratio of 3.30 and a beta of 0.78.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.64%. OGE Energy’s payout ratio is 76.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on OGE. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays lifted their price objective on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Three equities 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, the company currently has an average rating of “Hold” and a consensus 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.