OGE Energy Corp. (NYSE:OGE) Position Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of OGE Energy Corp. (NYSE:OGE) by 6.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,172 shares of the utilities provider’s stock after selling 6,275 shares during the period. Envestnet Asset Management Inc.’s holdings in OGE Energy were worth $3,555,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of OGE. Mather Group LLC. grew its position in OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares during the last quarter. CIBC Asset Management Inc grew its holdings in OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock worth $249,000 after buying an additional 295 shares in the last quarter. Gries Financial LLC increased its position in OGE Energy by 1.7% in the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock valued at $1,274,000 after acquiring an additional 514 shares during the period. UMB Bank n.a. raised its stake in OGE Energy by 6.7% during the 4th quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 515 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in OGE Energy by 1.0% during the 4th quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider’s stock worth $2,405,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $45.21 on Friday. OGE Energy Corp. has a 12-month low of $33.79 and a 12-month high of $46.91. The stock has a market capitalization of $9.10 billion, a P/E ratio of 20.55, a P/E/G ratio of 3.30 and a beta of 0.57. The firm’s 50 day moving average is $44.68 and its 200-day moving average is $42.85. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51.

OGE Energy Dividend Announcement

The business 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 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 dividend yield of 3.73%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OGE shares. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a report on Tuesday. Barclays boosted their price target on shares of OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Argus raised OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, OGE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

About OGE Energy

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.