State of Tennessee Department of Treasury Sells 1,583 Shares of OGE Energy Corp. (NYSE:OGE)

State of Tennessee Department of Treasury decreased its position in shares of OGE Energy Corp. (NYSE:OGE) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,120 shares of the utilities provider’s stock after selling 1,583 shares during the quarter. State of Tennessee Department of Treasury’s holdings in OGE Energy were worth $2,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC increased its position in OGE Energy by 14.2% during the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 810 shares during the period. Harbor Capital Advisors Inc. grew its position in OGE Energy by 83.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock worth $3,947,000 after purchasing an additional 43,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of OGE Energy during the 4th quarter valued at approximately $252,000. Jones Financial Companies Lllp grew its position in shares of OGE Energy by 38.2% during the 4th quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 6,657 shares during the period. Finally, Inspire Trust Co. N.A. boosted its holdings in OGE Energy by 18.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 107,570 shares of the utilities provider’s stock worth $4,413,000 after buying an additional 17,000 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Up 1.5 %

Shares of OGE opened at $45.53 on Tuesday. The company’s fifty day moving average is $44.72 and its 200 day moving average is $42.96. OGE Energy Corp. has a fifty-two week low of $33.98 and a fifty-two week high of $46.91. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a market capitalization of $9.17 billion, a PE ratio of 20.70, a P/E/G ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 7th were issued a $0.4213 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.70%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OGE. Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, April 11th. Barclays increased their target price on OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

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.