State of Michigan Retirement System grew its stake in OGE Energy Corp. (NYSE:OGE – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,014 shares of the utilities provider’s stock after buying an additional 500 shares during the period. State of Michigan Retirement System’s holdings in OGE Energy were worth $2,018,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of OGE Energy in the second quarter worth $31,000. Ten Capital Wealth Advisors LLC acquired a new stake in shares of OGE Energy in the third quarter worth $42,000. Quadrant Capital Group LLC increased its stake in shares of OGE Energy by 39.5% in the third quarter. Quadrant Capital Group LLC now owns 1,169 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 331 shares during the period. Hanson & Doremus Investment Management acquired a new stake in shares of OGE Energy in the fourth quarter worth $47,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of OGE Energy in the third quarter worth $75,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.
OGE Energy Stock Performance
OGE opened at $38.60 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.87 and a beta of 0.73. OGE Energy Corp. has a 52-week low of $33.28 and a 52-week high of $42.91. The firm’s fifty day simple moving average is $37.05 and its two-hundred day simple moving average is $37.87.
OGE Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 10th will be issued a dividend of $0.4141 per share. This represents a $1.66 annualized dividend and a yield of 4.29%. This is an increase from OGE Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 6th. OGE Energy’s dividend payout ratio (DPR) is presently 50.15%.
Insider Buying and Selling at OGE Energy
In related news, Director David L. Hauser acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were acquired at an average cost of $35.09 per share, with a total value of $35,090.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $105,270. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other OGE Energy news, Director David E. Rainbolt purchased 5,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were purchased at an average cost of $36.65 per share, with a total value of $183,250.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $549,750. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David L. Hauser purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average cost of $35.09 per share, for a total transaction of $35,090.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $105,270. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,100 shares of company stock valued at $221,925 over the last ninety days. Corporate insiders own 12.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of OGE Energy to $42.00 in a research note on Wednesday, December 14th. UBS Group lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $39.00 in a research note on Tuesday, February 28th. Mizuho cut their price objective on shares of OGE Energy from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, March 23rd. Guggenheim lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and raised their price target for the company from $39.00 to $40.00 in a research report on Monday, January 23rd. Finally, StockNews.com began coverage on shares of OGE Energy in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.00.
OGE Energy Company Profile
OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.
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