MONECO Advisors LLC Invests $310,000 in OGE Energy Corp. (NYSE:OGE)

MONECO Advisors LLC acquired a new stake in OGE Energy Corp. (NYSE:OGE) during the fourth quarter, HoldingsChannel reports. The firm acquired 7,522 shares of the utilities provider’s stock, valued at approximately $310,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates grew its stake in OGE Energy by 4.1% during the 3rd quarter. Raymond James & Associates now owns 233,437 shares of the utilities provider’s stock worth $9,576,000 after buying an additional 9,255 shares during the last quarter. International Assets Investment Management LLC grew its holdings in OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after acquiring an additional 729,579 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of OGE Energy by 10.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,978 shares of the utilities provider’s stock valued at $614,000 after purchasing an additional 1,404 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in OGE Energy by 14.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,425 shares of the utilities provider’s stock valued at $381,000 after buying an additional 1,214 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in OGE Energy by 0.5% during the third quarter. State of Alaska Department of Revenue now owns 300,775 shares of the utilities provider’s stock worth $12,337,000 after purchasing an additional 1,580 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OGE shares. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays decreased their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Down 0.1 %

Shares of NYSE:OGE opened at $45.15 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $45.60. The stock has a 50-day simple moving average of $42.18 and a 200-day simple moving average of $41.43. The stock has a market capitalization of $9.08 billion, a P/E ratio of 20.52, a PEG ratio of 3.30 and a beta of 0.78.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid 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 yield of 3.73%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

OGE Energy Company 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.