T. Rowe Price Investment Management Inc. Purchases 844,679 Shares of OGE Energy Corp. (NYSE:OGE)

T. Rowe Price Investment Management Inc. boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 15.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,174,558 shares of the utilities provider’s stock after purchasing an additional 844,679 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in OGE Energy were worth $254,701,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OGE. Headlands Technologies LLC purchased a new stake in OGE Energy during the 4th quarter valued at $27,000. Bessemer Group Inc. boosted its position in OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $35,000. Principal Securities Inc. grew its position in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after buying an additional 659 shares during the period. Finally, BankPlus Trust Department purchased a new stake in OGE Energy in the fourth quarter worth about $44,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OGE. Barclays increased their target price on OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.25.

OGE Energy Stock Down 0.5 %

Shares of OGE opened at $45.05 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $44.64 and its 200 day moving average is $42.81. OGE Energy Corp. has a 12-month low of $33.46 and a 12-month high of $46.91. The company has a market capitalization of $9.07 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is presently 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.