Heritage Trust Co Acquires New Position in OGE Energy Corp. (NYSE:OGE)

Heritage Trust Co bought a new position in shares of OGE Energy Corp. (NYSE:OGE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,269 shares of the utilities provider’s stock, valued at approximately $836,000.

A number of other large investors have also recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in OGE Energy by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock valued at $199,000 after buying an additional 239 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 279 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 295 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 361 shares in the last quarter. Finally, Gries Financial LLC increased its position in OGE Energy by 1.7% during the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock worth $1,274,000 after purchasing an additional 514 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OGE shares. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Finally, Barclays increased their target price on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $44.14 on Friday. 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 52 week low of $32.37 and a 52 week high of $46.91. The firm has a market cap of $8.89 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The firm’s fifty day moving average is $44.37 and its 200-day moving average is $42.60.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is presently 76.36%.

OGE Energy 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.