OGE Energy Corp. (NYSE:OGE) Shares Sold by ING Groep NV

ING Groep NV cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,407 shares of the utilities provider’s stock after selling 6,793 shares during the quarter. ING Groep NV’s holdings in OGE Energy were worth $3,441,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ieq Capital LLC purchased a new stake in OGE Energy in the fourth quarter valued at approximately $235,000. Atria Wealth Solutions Inc. acquired a new stake in OGE Energy during the 4th quarter valued at approximately $1,679,000. CIBC Asset Management Inc boosted its holdings 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 acquiring an additional 295 shares during the last quarter. Allworth Financial LP increased its stake in shares of OGE Energy by 185.8% in the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 1,180 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in shares of OGE Energy during the fourth quarter worth $8,195,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

OGE opened at $45.19 on Friday. The firm has a fifty day moving average price of $42.12 and a 200 day moving average price of $41.37. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $45.32. The stock has a market cap of $9.09 billion, a P/E ratio of 20.54, a P/E/G ratio of 3.30 and a beta of 0.78. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is currently 76.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OGE shares. Barclays lowered their price target on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three investment 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 currently has a consensus rating of “Hold” and a consensus target price of $45.00.

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.