First Trust Advisors LP Increases Stock Holdings in OGE Energy Corp. (NYSE:OGE)

First Trust Advisors LP lifted its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 667,654 shares of the utilities provider's stock after buying an additional 11,652 shares during the quarter. First Trust Advisors LP owned approximately 0.33% of OGE Energy worth $27,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in OGE Energy by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider's stock valued at $883,311,000 after purchasing an additional 203,129 shares in the last quarter. Boston Partners boosted its holdings in shares of OGE Energy by 6.6% in the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider's stock valued at $172,554,000 after acquiring an additional 258,989 shares during the period. Geode Capital Management LLC boosted its holdings in shares of OGE Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider's stock valued at $138,845,000 after acquiring an additional 15,415 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in shares of OGE Energy by 11.7% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,089,289 shares of the utilities provider's stock valued at $86,183,000 after acquiring an additional 218,509 shares during the period. Finally, Norges Bank acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $68,876,000. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the subject of several research analyst reports. Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a report on Friday, April 11th. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays increased their price objective on OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.25.

OGE Energy Stock Performance

Shares of OGE Energy stock traded down $0.77 during trading hours on Wednesday, hitting $44.94. 835,698 shares of the company were exchanged, compared to its average volume of 1,146,725. The business has a 50-day moving average of $44.75 and a 200-day moving average of $42.98. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 3.30 and a beta of 0.57. 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 1 year low of $34.18 and a 1 year high of $46.93.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. OGE Energy's revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, analysts expect that OGE Energy Corp. will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were given a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, April 7th. OGE Energy's payout ratio is 76.36%.

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.