OGE Energy Corp. (NYSE:OGE) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in OGE Energy Corp. (NYSE:OGE) by 29.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,628 shares of the utilities provider’s stock after selling 6,493 shares during the quarter. Corient Private Wealth LLC’s holdings in OGE Energy were worth $645,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. purchased a new position in OGE Energy in the 4th quarter valued at $204,000. Midwest Professional Planners LTD. boosted its holdings in shares of OGE Energy by 4.1% in the fourth quarter. Midwest Professional Planners LTD. now owns 23,485 shares of the utilities provider’s stock valued at $969,000 after acquiring an additional 935 shares in the last quarter. Vestcor Inc purchased a new stake in shares of OGE Energy in the fourth quarter valued at about $329,000. Swiss National Bank increased its stake in shares of OGE Energy by 0.9% during the fourth quarter. Swiss National Bank now owns 395,000 shares of the utilities provider’s stock worth $16,294,000 after acquiring an additional 3,600 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in OGE Energy by 219.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,121 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OGE. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Barclays increased their price objective on OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.67.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $45.49 on Friday. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. 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 business’s 50 day simple moving average is $44.01 and its 200-day simple moving average is $42.31. OGE Energy Corp. has a 12 month low of $32.37 and a 12 month high of $46.54.

OGE Energy Announces Dividend

The company also recently announced 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 3.70%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) 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.