Mirabella Financial Services LLP Purchases New Stake in OGE Energy Corp. (NYSE:OGE)

Mirabella Financial Services LLP purchased a new position in shares of OGE Energy Corp. (NYSE:OGE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 33,079 shares of the utilities provider's stock, valued at approximately $1,364,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its holdings in shares of OGE Energy by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock valued at $199,000 after purchasing an additional 239 shares in the last quarter. Mather Group LLC. boosted 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 valued at $67,000 after buying an additional 279 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after buying an additional 295 shares during the period. Bessemer Group Inc. raised its position in shares of OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after acquiring an additional 361 shares during the last quarter. Finally, Commerce Bank lifted its stake in shares of OGE Energy by 1.5% during the fourth quarter. Commerce Bank now owns 30,608 shares of the utilities provider's stock valued at $1,263,000 after acquiring an additional 450 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Down 0.6 %

Shares of NYSE OGE traded down $0.29 during trading hours on Friday, hitting $44.92. The company had a trading volume of 945,625 shares, compared to its average volume of 1,149,507. OGE Energy Corp. has a 1-year low of $33.79 and a 1-year high of $46.91. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The firm's 50 day moving average is $44.70 and its 200-day moving average is $42.88. The stock has a market capitalization of $9.04 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 7th were paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, April 7th. OGE Energy's dividend payout ratio (DPR) is presently 76.36%.

Analyst Ratings Changes

OGE has been the topic of several recent research reports. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research note on Friday, April 11th. Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays upped their target price on shares of OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.25.

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.