Raymond James Financial Inc. Takes $11.86 Million Position in OGE Energy Corp. (NYSE:OGE)

Raymond James Financial Inc. bought a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 287,554 shares of the utilities provider’s stock, valued at approximately $11,862,000.

Several other hedge funds have also recently made changes to their positions in OGE. Stonebridge Financial Group LLC purchased a new stake in shares of OGE Energy during the 4th quarter valued at about $35,000. Principal Securities Inc. raised its position in 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 purchasing an additional 659 shares during the period. BankPlus Trust Department purchased a new stake in OGE Energy in the 4th quarter worth about $44,000. Mather Group LLC. raised its position in OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares during the period. Finally, Allworth Financial LP raised its position in OGE Energy by 185.8% in the 4th 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 during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of OGE stock opened at $45.31 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The company has a market capitalization of $9.12 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.30 and a beta of 0.70. The company’s 50-day simple moving average is $43.54 and its two-hundred day simple moving average is $42.09. OGE Energy Corp. has a one year low of $32.37 and a one year high of $46.54.

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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.72%. OGE Energy’s dividend payout ratio is currently 76.36%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Finally, LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.