ProShare Advisors LLC Increases Stock Position in OGE Energy Corporation $OGE

ProShare Advisors LLC increased its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 6.1% in the third quarter, Holdings Channel reports. The firm owned 779,470 shares of the utilities provider’s stock after buying an additional 44,503 shares during the quarter. ProShare Advisors LLC’s holdings in OGE Energy were worth $36,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of OGE. Capital A Wealth Management LLC raised its holdings in shares of OGE Energy by 5,157.1% in the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock valued at $33,000 after buying an additional 722 shares during the last quarter. State of Wyoming purchased a new position in shares of OGE Energy during the second quarter worth about $34,000. Golden State Wealth Management LLC increased its position in OGE Energy by 427.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 632 shares during the period. Quent Capital LLC acquired a new position in OGE Energy in the 3rd quarter valued at about $43,000. Finally, MTM Investment Management LLC purchased a new stake in OGE Energy during the 2nd quarter valued at approximately $51,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Trading Up 0.8%

Shares of OGE stock opened at $44.31 on Tuesday. The business’s fifty day moving average price is $43.19 and its 200 day moving average price is $44.42. The firm has a market capitalization of $8.93 billion, a PE ratio of 17.79, a P/E/G ratio of 2.59 and a beta of 0.62. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52. OGE Energy Corporation has a 1-year low of $40.80 and a 1-year high of $47.33.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Monday, January 5th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, January 5th. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OGE. UBS Group lowered their target price on OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Wells Fargo & Company downgraded OGE Energy from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $45.00 to $39.00 in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 24th. Royal Bank Of Canada restated a “sector perform” rating on shares of OGE Energy in a research report on Friday, January 23rd. Finally, Mizuho raised their target price on shares of OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.13.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.