Summit Global Investments raised its position in shares of OGE Energy Corp. (NYSE:OGE) by 4.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 218,342 shares of the utilities provider’s stock after purchasing an additional 8,607 shares during the quarter. OGE Energy comprises about 1.2% of Summit Global Investments’ investment portfolio, making the stock its 27th biggest holding. Summit Global Investments’ holdings in OGE Energy were worth $9,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CNB Bank purchased a new position in shares of OGE Energy in the 1st quarter worth approximately $26,000. Berman Capital Advisors LLC boosted its holdings in shares of OGE Energy by 108.1% in the 1st quarter. Berman Capital Advisors LLC now owns 616 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 320 shares during the period. Cornerstone Advisors Inc. boosted its holdings in shares of OGE Energy by 154.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 620 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 376 shares during the period. Penserra Capital Management LLC purchased a new position in shares of OGE Energy in the 4th quarter worth approximately $28,000. Finally, Fort L.P. purchased a new position in shares of OGE Energy in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 68.33% of the company’s stock.
Shares of OGE stock traded up $0.32 on Friday, reaching $43.55. 24,081 shares of the company’s stock were exchanged, compared to its average volume of 1,240,719. OGE Energy Corp. has a 52 week low of $34.07 and a 52 week high of $44.40. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.33 and a current ratio of 0.51. The firm has a market capitalization of $8.71 billion, a P/E ratio of 20.52, a P/E/G ratio of 4.44 and a beta of 0.53.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, July 9th. OGE Energy’s dividend payout ratio is currently 68.87%.
A number of equities analysts have recently commented on OGE shares. Zacks Investment Research upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Monday, February 18th. Wolfe Research started coverage on OGE Energy in a research note on Friday, March 15th. They set a “market perform” rating for the company. Finally, Goldman Sachs Group lowered OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price target for the company. in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.20.
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OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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