Kentucky Trust Co Makes New $980,000 Investment in OGE Energy Corp. (NYSE:OGE)

Kentucky Trust Co acquired a new position in shares of OGE Energy Corp. (NYSE:OGE) during the 4th quarter, Holdings Channel.com reports. The firm acquired 23,766 shares of the utilities provider’s stock, valued at approximately $980,000.

Several other institutional investors also recently bought and sold shares of OGE. International Assets Investment Management LLC increased its holdings in OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after purchasing an additional 729,579 shares during the period. Verition Fund Management LLC boosted its position in OGE Energy by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock valued at $54,087,000 after acquiring an additional 265,115 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in OGE Energy during the 4th quarter valued at $8,195,000. State Street Corp boosted its position in OGE Energy by 2.8% during the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after acquiring an additional 185,069 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in OGE Energy by 34.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider’s stock valued at $24,841,000 after acquiring an additional 154,000 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Up 1.4 %

OGE Energy stock opened at $43.44 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 3.18 and a beta of 0.78. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The business has a fifty day moving average price of $41.86 and a 200-day moving average price of $41.11.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a $0.4213 dividend. The ex-dividend date was Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.88%. OGE Energy’s payout ratio is 87.05%.

Analyst Upgrades and Downgrades

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

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.