Harvest Fund Management Co. Ltd Takes $324,000 Position in OGE Energy Corp. (NYSE:OGE)

Harvest Fund Management Co. Ltd bought a new stake in shares of OGE Energy Corp. (NYSE:OGE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,857 shares of the utilities provider’s stock, valued at approximately $324,000.

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in OGE Energy in the 3rd quarter valued at $392,000. CIBC Asset Management Inc acquired a new stake in OGE Energy in the 3rd quarter valued at $236,000. Natixis Advisors LLC grew its stake in OGE Energy by 12.5% in the 3rd quarter. Natixis Advisors LLC now owns 72,751 shares of the utilities provider’s stock valued at $2,984,000 after acquiring an additional 8,060 shares during the period. Navellier & Associates Inc. acquired a new stake in OGE Energy in the 3rd quarter valued at $785,000. Finally, Charles Schwab Investment Management Inc. grew its stake in OGE Energy by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock valued at $54,960,000 after acquiring an additional 4,761 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Trading Down 0.7 %

Shares of OGE stock opened at $44.95 on Friday. The company’s 50-day moving average price is $43.65 and its 200-day moving average price is $42.13. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.54.

OGE Energy Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.75%. OGE Energy’s payout ratio is 76.36%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OGE. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays lifted their target price on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.67.

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.