Gabelli Funds LLC Cuts Stake in OGE Energy Corp. (NYSE:OGE)

Gabelli Funds LLC lessened its stake in shares of OGE Energy Corp. (NYSE:OGE) by 0.0% during the 4th quarter, Holdings Channel reports. The fund owned 1,107,800 shares of the utilities provider’s stock after selling 400 shares during the quarter. Gabelli Funds LLC’s holdings in OGE Energy were worth $45,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in OGE Energy by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 239 shares during the last quarter. Mather Group LLC. lifted its stake 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 acquiring an additional 279 shares in the last quarter. CIBC Asset Management Inc boosted its holdings 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 valued at $249,000 after purchasing an additional 295 shares during the last quarter. Bessemer Group Inc. increased its holdings in OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares during the last quarter. Finally, Gries Financial LLC raised its position in shares of OGE Energy by 1.7% in the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock valued at $1,274,000 after purchasing an additional 514 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

OGE Energy Stock Performance

Shares of OGE opened at $44.64 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.91. The company’s fifty day moving average price is $44.41 and its 200 day moving average price is $42.65. The company has a market capitalization of $8.99 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.77%. OGE Energy’s dividend payout ratio (DPR) is currently 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.