Advisors Asset Management Inc. Lowers Stock Position in OGE Energy Corporation $OGE

Advisors Asset Management Inc. trimmed its position in shares of OGE Energy Corporation (NYSE:OGE) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,552 shares of the utilities provider’s stock after selling 12,135 shares during the period. Advisors Asset Management Inc.’s holdings in OGE Energy were worth $1,460,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AE Wealth Management LLC grew its stake in shares of OGE Energy by 4.7% in the third quarter. AE Wealth Management LLC now owns 356,485 shares of the utilities provider’s stock valued at $16,495,000 after buying an additional 16,058 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in OGE Energy by 302.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 58,392 shares of the utilities provider’s stock worth $2,702,000 after acquiring an additional 43,895 shares in the last quarter. ProShare Advisors LLC boosted its holdings in OGE Energy by 6.1% in the 3rd quarter. ProShare Advisors LLC now owns 779,470 shares of the utilities provider’s stock worth $36,066,000 after acquiring an additional 44,503 shares during the period. First Citizens Bank & Trust Co. grew its position in OGE Energy by 274.7% in the second quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock valued at $783,000 after acquiring an additional 12,935 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in OGE Energy by 390.6% in the third quarter. Pacer Advisors Inc. now owns 36,805 shares of the utilities provider’s stock valued at $1,703,000 after acquiring an additional 29,303 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays reduced their target price on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Jefferies Financial Group boosted their price objective on shares of OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 24th. UBS Group dropped their target price on OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company cut OGE Energy from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $45.00 to $39.00 in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.13.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $46.99 on Tuesday. The company has a market cap of $9.47 billion, a PE ratio of 18.87, a P/E/G ratio of 2.77 and a beta of 0.62. OGE Energy Corporation has a fifty-two week low of $40.80 and a fifty-two week high of $47.33. The firm has a 50-day simple moving average of $43.43 and a 200 day simple moving average of $44.47. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.12.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, January 5th. OGE Energy’s dividend payout ratio is presently 68.27%.

About OGE Energy

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.