Lee Danner & Bass Inc. Invests $45,000 in OGE Energy Corp. (NYSE:OGE)

Lee Danner & Bass Inc. purchased a new position in OGE Energy Corp. (NYSE:OGE) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,100 shares of the utilities provider’s stock, valued at approximately $45,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Mather Group LLC. grew its holdings in shares of OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares during the last quarter. CIBC Asset Management Inc lifted its stake in OGE Energy by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 295 shares during the period. Gries Financial LLC lifted its stake in OGE Energy by 1.7% in the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock worth $1,274,000 after acquiring an additional 514 shares during the period. UMB Bank n.a. lifted its stake in OGE Energy by 6.7% in the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock worth $339,000 after acquiring an additional 515 shares during the period. Finally, Arizona State Retirement System lifted its stake in OGE Energy by 1.0% in the fourth quarter. Arizona State Retirement System now owns 58,296 shares of the utilities provider’s stock worth $2,405,000 after acquiring an additional 549 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OGE has been the subject of a number of research reports. Barclays upped their price objective 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 raised shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.67.

OGE Energy Stock Performance

OGE stock opened at $44.95 on Friday. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.30 and a beta of 0.70. The firm has a 50-day simple moving average of $43.65 and a two-hundred day simple moving average of $42.15. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.54. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is 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.