Pictet Asset Management Holding SA Boosts Stock Position in OGE Energy Corp. (NYSE:OGE)

Pictet Asset Management Holding SA boosted its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 12.1% during the fourth quarter, Holdings Channel reports. The firm owned 33,029 shares of the utilities provider’s stock after acquiring an additional 3,559 shares during the quarter. Pictet Asset Management Holding SA’s holdings in OGE Energy were worth $1,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OGE. Stonebridge Financial Group LLC purchased a new stake in shares of OGE Energy in the 4th quarter worth about $35,000. Principal Securities Inc. lifted 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 buying an additional 659 shares during the period. BankPlus Trust Department bought a new stake in OGE Energy during the 4th quarter valued at approximately $44,000. Lee Danner & Bass Inc. bought a new position in shares of OGE Energy in the 4th quarter worth approximately $45,000. Finally, Mather Group LLC. lifted its stake in shares of OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 279 shares during the period. Institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

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

OGE Energy Price Performance

Shares of NYSE:OGE opened at $43.69 on Friday. The business has a fifty day moving average price of $44.27 and a 200-day moving average price of $42.50. 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 $8.80 billion, a PE ratio of 19.86, a PEG ratio of 3.30 and a beta of 0.57. OGE Energy Corp. has a 1-year low of $32.37 and a 1-year high of $46.91.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.86%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

OGE Energy Company 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.