Parallel Advisors LLC Sells 7,446 Shares of OGE Energy Corp. (NYSE:OGE)

Parallel Advisors LLC lessened its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,539 shares of the utilities provider’s stock after selling 7,446 shares during the quarter. Parallel Advisors LLC’s holdings in OGE Energy were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in OGE Energy in the fourth quarter worth about $35,000. Principal Securities Inc. raised its holdings in OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 659 shares in the last quarter. BankPlus Trust Department bought a new position in OGE Energy in the fourth quarter worth $44,000. Mather Group LLC. raised its holdings in 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 in the last quarter. Finally, Allworth Financial LP raised its holdings in OGE Energy by 185.8% in the fourth quarter. Allworth Financial LP now owns 1,815 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 1,180 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE opened at $44.95 on Friday. The business’s fifty day simple moving average is $43.65 and its two-hundred day simple moving average is $42.13. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12 month low of $32.37 and a 12 month high of $46.54. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 3.30 and a beta of 0.70.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is presently 76.36%.

Wall Street Analyst Weigh In

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

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.