OGE Energy Corp. (NYSE:OGE) Stock Position Reduced by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its stake in OGE Energy Corp. (NYSE:OGE) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,249 shares of the utilities provider’s stock after selling 961 shares during the period. Summit Investment Advisors Inc.’s holdings in OGE Energy were worth $1,660,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sterling Capital Management LLC increased its position in OGE Energy by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 11,847 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 4,227 shares during the period. Heritage Trust Co acquired a new position in shares of OGE Energy during the fourth quarter valued at $836,000. Treasurer of the State of North Carolina raised its stake in shares of OGE Energy by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 87,890 shares of the utilities provider’s stock valued at $3,625,000 after purchasing an additional 550 shares in the last quarter. Bessemer Group Inc. lifted its holdings in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares during the period. Finally, Greenland Capital Management LP grew its position in OGE Energy by 141.0% in the 4th quarter. Greenland Capital Management LP now owns 57,840 shares of the utilities provider’s stock valued at $2,386,000 after buying an additional 33,840 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OGE has been the subject of a number of research analyst reports. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays upped 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. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Friday, April 11th. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a report on Monday, March 17th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

OGE Energy Stock Down 0.1 %

OGE stock opened at $44.74 on Wednesday. The company’s 50 day simple moving average is $44.45 and its 200-day simple moving average is $42.66. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.91. 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 firm has a market capitalization of $9.01 billion, a P/E ratio of 20.33, a P/E/G ratio of 3.30 and a beta of 0.57.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.77%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

About OGE Energy

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.