Bank of Montreal Can Acquires 2,830 Shares of OGE Energy Corp. (NYSE:OGE)

Bank of Montreal Can boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 10.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,329 shares of the utilities provider’s stock after buying an additional 2,830 shares during the quarter. Bank of Montreal Can’s holdings in OGE Energy were worth $1,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OGE. Vanguard Group Inc. increased its position in shares of OGE Energy by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock worth $883,311,000 after purchasing an additional 203,129 shares during the last quarter. Boston Partners grew its stake in OGE Energy by 6.6% in the 4th quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock worth $172,554,000 after buying an additional 258,989 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of OGE Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider’s stock worth $138,845,000 after buying an additional 15,415 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of OGE Energy by 11.7% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 2,089,289 shares of the utilities provider’s stock valued at $86,183,000 after buying an additional 218,509 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of OGE Energy during the 4th quarter worth $68,876,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OGE shares. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research note on Monday, March 17th. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Friday, April 11th. Barclays boosted their target price 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. Finally, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their price target for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

OGE Energy Stock Up 0.7 %

OGE opened at $45.01 on Friday. OGE Energy Corp. has a 12 month low of $33.25 and a 12 month high of $46.91. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The business’s 50-day moving average price is $44.53 and its 200-day moving average price is $42.70. The company has a market cap of $9.06 billion, a P/E ratio of 20.46, a P/E/G ratio of 3.30 and a beta of 0.57.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.74%. OGE Energy’s dividend payout ratio (DPR) is currently 76.36%.

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.