MONECO Advisors LLC Takes $310,000 Position in OGE Energy Corp. (NYSE:OGE)

MONECO Advisors LLC acquired a new position in OGE Energy Corp. (NYSE:OGE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,522 shares of the utilities provider’s stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OGE. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy in the fourth quarter valued at about $35,000. Principal Securities Inc. lifted its holdings in shares of 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 purchasing an additional 659 shares during the period. Fortitude Family Office LLC acquired a new position in OGE Energy during the third quarter valued at $63,000. Mather Group LLC. lifted its holdings in shares of OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after buying an additional 279 shares during the period. Finally, Allworth Financial LP boosted its position in OGE Energy by 185.8% in the 4th quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 1,180 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on OGE. Barclays lowered their target price on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and an average target price of $45.00.

OGE Energy Price Performance

Shares of OGE stock opened at $45.15 on Tuesday. The firm’s 50-day moving average is $42.18 and its two-hundred day moving average is $41.43. The company has a market capitalization of $9.08 billion, a PE ratio of 20.52, a price-to-earnings-growth 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 Corp. has a 12 month low of $32.37 and a 12 month high of $45.60.

OGE Energy Announces Dividend

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 given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.73%. OGE Energy’s payout ratio is 76.36%.

OGE Energy 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.