Atria Wealth Solutions Inc. Purchases New Position in OGE Energy Corp. (NYSE:OGE)

Atria Wealth Solutions Inc. purchased a new stake in OGE Energy Corp. (NYSE:OGE) in the fourth quarter, HoldingsChannel reports. The fund purchased 40,698 shares of the utilities provider’s stock, valued at approximately $1,679,000.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of OGE Energy in the 4th quarter valued at about $35,000. Principal Securities Inc. lifted its holdings in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 659 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of OGE Energy in the 3rd quarter valued at about $63,000. Mather Group LLC. lifted its holdings in shares of OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 279 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of OGE Energy by 185.8% in the 4th quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock valued at $77,000 after acquiring an additional 1,180 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OGE. Barclays decreased their price objective on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Up 2.0 %

Shares of NYSE OGE opened at $45.19 on Friday. 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 company has a market cap of $9.09 billion, a P/E ratio of 20.54, a PEG ratio of 3.30 and a beta of 0.78. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $45.32. The firm has a 50-day simple moving average of $42.12 and a two-hundred day simple moving average of $41.37.

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 given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

OGE Energy 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.