OGE Energy Corp. (NYSE:OGE) is ClearBridge Investments Ltd’s 6th Largest Position

ClearBridge Investments Ltd cut its position in shares of OGE Energy Corp. (NYSE:OGE) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,984,508 shares of the utilities provider’s stock after selling 118,370 shares during the period. OGE Energy makes up 5.4% of ClearBridge Investments Ltd’s holdings, making the stock its 6th biggest holding. ClearBridge Investments Ltd owned 2.48% of OGE Energy worth $205,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of OGE Energy during the 4th quarter valued at approximately $35,000. Principal Securities Inc. increased its stake in OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 659 shares during the last quarter. BankPlus Trust Department purchased a new stake in OGE Energy in the fourth quarter valued at $44,000. Lee Danner & Bass Inc. acquired a new position in shares of OGE Energy in the 4th quarter valued at $45,000. Finally, Mather Group LLC. grew its holdings in shares of OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Four equities research 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 an average rating of “Hold” and a consensus target price of $45.67.

OGE Energy Trading Up 0.9 %

NYSE:OGE opened at $45.49 on Friday. The stock has a fifty day moving average price of $44.01 and a 200 day moving average price of $42.33. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.54. The firm has a market cap 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 Dividend Announcement

The business also recently disclosed 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. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio is presently 76.36%.

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.