Treasurer of the State of North Carolina Grows Position in OGE Energy Corp. (NYSE:OGE)

Treasurer of the State of North Carolina boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,890 shares of the utilities provider’s stock after purchasing an additional 550 shares during the quarter. Treasurer of the State of North Carolina’s holdings in OGE Energy were worth $3,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGE. Bessemer Group Inc. raised its holdings in OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 361 shares during the last quarter. Greenland Capital Management LP increased its position in OGE Energy by 141.0% in the fourth quarter. Greenland Capital Management LP now owns 57,840 shares of the utilities provider’s stock worth $2,386,000 after buying an additional 33,840 shares in the last quarter. Bank of Nova Scotia bought a new stake in OGE Energy during the 4th quarter worth approximately $2,492,000. Twin Capital Management Inc. boosted its holdings in OGE Energy by 4.2% in the 4th quarter. Twin Capital Management Inc. now owns 61,794 shares of the utilities provider’s stock worth $2,549,000 after buying an additional 2,501 shares during the period. Finally, Legal & General Group Plc grew its position in shares of OGE Energy by 10.9% during the fourth quarter. Legal & General Group Plc now owns 1,108,618 shares of the utilities provider’s stock worth $45,730,000 after purchasing an additional 109,184 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

OGE Energy Stock Down 0.1 %

Shares of OGE stock opened at $44.74 on Wednesday. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $46.91. The stock’s 50-day simple moving average is $44.45 and its 200-day simple moving average is $42.66. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The firm has a market capitalization of $9.01 billion, a PE ratio of 20.33, a P/E/G ratio of 3.30 and a beta of 0.57.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 3.77%. OGE Energy’s payout ratio is 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.