Edgestream Partners L.P. Takes $1.58 Million Position in OGE Energy Corp. (NYSE:OGE)

Edgestream Partners L.P. bought a new stake in OGE Energy Corp. (NYSE:OGE) during the 2nd quarter, HoldingsChannel reports. The fund bought 44,066 shares of the utilities provider’s stock, valued at approximately $1,582,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aspire Private Capital LLC purchased a new stake in shares of OGE Energy in the first quarter valued at about $15,064,000,000. TCI Wealth Advisors Inc. boosted its holdings in OGE Energy by 579.1% during the first quarter. TCI Wealth Advisors Inc. now owns 747 shares of the utilities provider’s stock worth $28,000 after buying an additional 637 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in OGE Energy by 181.3% during the second quarter. Capital Advisors Ltd. LLC now owns 782 shares of the utilities provider’s stock worth $28,000 after buying an additional 504 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in OGE Energy during the first quarter worth about $32,000. Finally, Jones Financial Companies Lllp boosted its holdings in OGE Energy by 45.0% during the second quarter. Jones Financial Companies Lllp now owns 1,417 shares of the utilities provider’s stock worth $51,000 after buying an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 66.99% of the company’s stock.

OGE Energy Stock Down 0.3 %

Shares of NYSE OGE opened at $34.68 on Tuesday. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $41.00. The company has a market capitalization of $6.95 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 4.73 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.56. The firm’s 50-day moving average is $34.20 and its two-hundred day moving average is $35.13.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 10th were given a $0.4182 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.41. OGE Energy’s payout ratio is currently 80.29%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OGE. Barclays boosted their price objective on shares of OGE Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, October 24th. UBS Group decreased their price objective on shares of OGE Energy from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, October 4th. LADENBURG THALM/SH SH decreased their price objective on shares of OGE Energy from $39.00 to $36.00 in a report on Thursday, October 12th. Guggenheim decreased their price objective on shares of OGE Energy from $36.00 to $32.00 in a report on Monday, October 9th. Finally, StockNews.com began coverage on shares of OGE Energy in a report on Thursday, October 5th. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.29.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.