Envestnet Portfolio Solutions Inc. Buys Shares of 4,934 OGE Energy Corp. (NYSE:OGE)

Envestnet Portfolio Solutions Inc. purchased a new position in OGE Energy Corp. (NYSE:OGE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,934 shares of the utilities provider’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in OGE Energy by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock valued at $54,960,000 after acquiring an additional 4,761 shares in the last quarter. Cerity Partners LLC boosted its position in OGE Energy by 41.1% during the third quarter. Cerity Partners LLC now owns 11,496 shares of the utilities provider’s stock valued at $472,000 after purchasing an additional 3,350 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in OGE Energy in the third quarter worth about $602,000. FMR LLC lifted its position in shares of OGE Energy by 16.3% during the third quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock valued at $22,929,000 after buying an additional 78,164 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of OGE Energy in the 3rd quarter valued at about $1,818,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 0.9 %

NYSE:OGE opened at $45.49 on Friday. The company’s 50 day moving average is $44.01 and its two-hundred day moving average is $42.31. The company has a market cap of $9.16 billion, a PE ratio of 20.68, a P/E/G ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.54. 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 Dividend Announcement

The company also recently announced 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. 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 payout ratio is 76.36%.

Wall Street Analyst Weigh In

OGE has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Monday, March 17th. Four investment 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, the company 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.