Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of OGE Energy Corp. (NYSE:OGE) by 13.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 652,328 shares of the utilities provider’s stock after selling 104,631 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.33% of OGE Energy worth $20,783,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Trust Advisors LP boosted its position in shares of OGE Energy by 4.7% in the 3rd quarter. First Trust Advisors LP now owns 2,089,014 shares of the utilities provider’s stock worth $62,650,000 after buying an additional 92,991 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of OGE Energy by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,282,632 shares of the utilities provider’s stock worth $38,467,000 after buying an additional 155,394 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of OGE Energy in the 3rd quarter worth about $35,875,000. Jennison Associates LLC purchased a new stake in shares of OGE Energy in the 3rd quarter worth about $30,177,000. Finally, JPMorgan Chase & Co. boosted its position in shares of OGE Energy by 27.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 997,111 shares of the utilities provider’s stock worth $29,586,000 after buying an additional 212,699 shares in the last quarter. Institutional investors own 61.56% of the company’s stock.
A number of research firms have issued reports on OGE. Barclays lowered shares of OGE Energy from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $36.00 to $35.00 in a report on Wednesday, January 13th. Mizuho lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $34.00 in a report on Monday, November 16th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of OGE Energy from a “strong sell” rating to a “hold” rating and set a $33.00 target price on the stock in a report on Wednesday, January 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $34.89.
OGE opened at $31.10 on Tuesday. The firm has a 50 day moving average price of $31.44 and a 200 day moving average price of $31.76. The company has a market cap of $6.22 billion, a PE ratio of -32.40, a price-to-earnings-growth ratio of 4.00 and a beta of 0.67. OGE Energy Corp. has a 1 year low of $23.00 and a 1 year high of $45.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.67 and a current ratio of 0.94.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 29th. Investors of record on Monday, January 11th were given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date was Friday, January 8th. OGE Energy’s dividend payout ratio (DPR) is presently 74.54%.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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