Summit Global Investments Invests $682,000 in OGE Energy Corp. (NYSE:OGE)

Summit Global Investments purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,525 shares of the utilities provider’s stock, valued at approximately $682,000.

Several other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in OGE Energy in the 4th quarter valued at approximately $45,000. Harvest Fund Management Co. Ltd purchased a new stake in OGE Energy in the 4th quarter valued at approximately $324,000. Xponance Inc. lifted its stake in OGE Energy by 5.2% in the 4th quarter. Xponance Inc. now owns 22,785 shares of the utilities provider’s stock valued at $940,000 after buying an additional 1,131 shares in the last quarter. Boston Partners lifted 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 valued at $172,554,000 after buying an additional 258,989 shares in the last quarter. Finally, GWN Securities Inc. purchased a new stake in OGE Energy in the 4th quarter valued at approximately $436,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research note on Monday, March 17th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Finally, Barclays upped their target price on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note 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 MarketBeat, OGE Energy currently has a consensus rating of “Hold” and an average price target of $45.67.

OGE Energy Trading Down 0.7 %

Shares of OGE Energy stock opened at $44.95 on Monday. OGE Energy Corp. has a fifty-two week low of $32.37 and a fifty-two week high of $46.54. The firm has a market cap of $9.05 billion, a PE ratio of 20.43, a P/E/G ratio of 3.30 and a beta of 0.70. The business’s fifty day moving average is $43.65 and its two-hundred day moving average is $42.16. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy Dividend Announcement

The firm 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 dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is presently 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.