OGE Energy Corp. (NYSE:OGE) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in shares of OGE Energy Corp. (NYSE:OGE) by 13.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,450 shares of the utilities provider’s stock after selling 2,894 shares during the quarter. Avantax Advisory Services Inc.’s holdings in OGE Energy were worth $802,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its position in shares of OGE Energy by 16.3% during the third quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after buying an additional 78,164 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of OGE Energy during the third quarter worth approximately $785,000. PEAK6 Investments LLC acquired a new stake in shares of OGE Energy during the third quarter worth approximately $783,000. BNP Paribas Financial Markets grew its position in shares of OGE Energy by 316.6% during the third quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after buying an additional 26,411 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in shares of OGE Energy by 14.2% during the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after buying an additional 810 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE stock opened at $45.31 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a 1 year low of $32.37 and a 1 year high of $46.54. The stock’s fifty day moving average is $43.54 and its two-hundred day moving average is $42.09.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is 76.36%.

Wall Street Analysts Forecast Growth

OGE has been the topic of several research analyst reports. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Monday. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Finally, Barclays raised their price objective on OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.67.

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.