Vestcor Inc Acquires New Holdings in OGE Energy Corp. (NYSE:OGE)

Vestcor Inc bought a new position in shares of OGE Energy Corp. (NYSE:OGE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,981 shares of the utilities provider’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also bought and sold shares of OGE. Swiss National Bank lifted its stake in shares of OGE Energy by 0.9% during the 4th quarter. Swiss National Bank now owns 395,000 shares of the utilities provider’s stock worth $16,294,000 after purchasing an additional 3,600 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of OGE Energy by 219.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,121 shares of the utilities provider’s stock valued at $129,000 after buying an additional 2,144 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of OGE Energy by 11.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 6,691 shares of the utilities provider’s stock valued at $276,000 after buying an additional 667 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of OGE Energy by 10.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,431 shares of the utilities provider’s stock worth $2,039,000 after acquiring an additional 4,567 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in OGE Energy by 9.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 16,045 shares of the utilities provider’s stock valued at $662,000 after acquiring an additional 1,390 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Down 0.7 %

NYSE OGE opened at $44.74 on Tuesday. The stock has a market cap of $9.01 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.30 and a beta of 0.70. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.54. The company has a fifty day simple moving average of $43.28 and a two-hundred day simple moving average of $42.01.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. 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 3.77%. OGE Energy’s dividend payout ratio is currently 76.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OGE shares. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays increased their price target on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.