Vestcor Inc Buys New Shares in OGE Energy Corp. (NYSE:OGE)

Vestcor Inc purchased a new position in OGE Energy Corp. (NYSE:OGE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,981 shares of the utilities provider’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in OGE Energy in the 4th quarter worth approximately $35,000. Principal Securities Inc. lifted its holdings in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 659 shares during the last quarter. BankPlus Trust Department purchased a new position in shares of OGE Energy during the 4th quarter worth about $44,000. Mather Group LLC. grew its holdings in OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 279 shares during the last quarter. Finally, Allworth Financial LP raised its position in OGE Energy by 185.8% in the 4th quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 1,180 shares during the period. 71.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OGE has been the topic of a number of analyst reports. Barclays upped their target price 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. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.67.

OGE Energy Stock Down 0.7 %

Shares of NYSE:OGE opened at $44.74 on Tuesday. The business’s 50 day moving average is $43.28 and its 200 day moving average is $42.01. The stock has a market cap of $9.01 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is 76.36%.

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.