Legal & General Group Plc Acquires 109,184 Shares of OGE Energy Corp. (NYSE:OGE)

Legal & General Group Plc increased its stake in OGE Energy Corp. (NYSE:OGE) by 10.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,108,618 shares of the utilities provider’s stock after buying an additional 109,184 shares during the period. Legal & General Group Plc’s holdings in OGE Energy were worth $45,730,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of OGE Energy in the fourth quarter worth $27,000. Stonebridge Financial Group LLC purchased a new stake in OGE Energy during the 4th quarter valued at about $35,000. Principal Securities Inc. increased its stake in OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 659 shares in the last quarter. BankPlus Trust Department purchased a new position in OGE Energy in the fourth quarter worth about $44,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of OGE Energy in the fourth quarter worth approximately $45,000. Institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent analyst reports. Evercore ISI upgraded shares of 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 report on Tuesday, January 21st. Barclays upped their price target on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Monday, March 17th. Finally, Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

OGE Energy Stock Up 2.0 %

OGE Energy stock opened at $44.14 on Friday. The stock 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 company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a fifty day moving average of $44.37 and a 200 day moving average of $42.60. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.91.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is 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.