ING Groep NV Trims Stake in OGE Energy Corp. (NYSE:OGE)

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

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares in the last quarter. Verition Fund Management LLC boosted its position in OGE Energy by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after acquiring an additional 265,115 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in OGE Energy during the 4th quarter valued at $8,195,000. State Street Corp increased its holdings in shares of OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after acquiring an additional 185,069 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of OGE Energy by 34.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider’s stock worth $24,841,000 after acquiring an additional 154,000 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Up 2.0 %

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

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.73%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is presently 76.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OGE shares. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

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.