OGE Energy Corp. (NYSE:OGE) Stake Lowered by ClearBridge Investments Ltd

ClearBridge Investments Ltd lessened its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 2.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,984,508 shares of the utilities provider’s stock after selling 118,370 shares during the period. OGE Energy accounts for 5.4% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 6th biggest holding. ClearBridge Investments Ltd’s holdings in OGE Energy were worth $205,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new stake in OGE Energy during the fourth quarter worth approximately $35,000. Principal Securities Inc. raised 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 worth $40,000 after acquiring an additional 659 shares in the last quarter. BankPlus Trust Department acquired a new stake in OGE Energy during the 4th quarter worth $44,000. Lee Danner & Bass Inc. purchased a new stake in OGE Energy in the fourth quarter valued at $45,000. Finally, Mather Group LLC. boosted its stake in OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE stock opened at $45.49 on Friday. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54. The stock’s 50-day moving average price is $44.01 and its 200 day moving average price is $42.33. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $9.16 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70.

OGE Energy Announces Dividend

The business also recently declared 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 3.70%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Analysts Set New Price Targets

OGE has been the subject of several research reports. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Barclays raised 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 report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.67.

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.