Proficio Capital Partners LLC Invests $1.80 Million in OGE Energy Corp. (NYSE:OGE)

Proficio Capital Partners LLC bought a new stake in OGE Energy Corp. (NYSE:OGE) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 43,643 shares of the utilities provider’s stock, valued at approximately $1,800,000.

A number of other hedge funds have also recently modified their holdings of the stock. Mather Group LLC. boosted its stake in OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 279 shares in the last quarter. CIBC Asset Management Inc boosted its position 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 purchasing an additional 295 shares during the period. Gries Financial LLC boosted its position in shares of OGE Energy by 1.7% in the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock valued at $1,274,000 after purchasing an additional 514 shares during the period. UMB Bank n.a. grew its stake in OGE Energy by 6.7% during the 4th quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock worth $339,000 after buying an additional 515 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in OGE Energy by 3.2% during the third quarter. Rockefeller Capital Management L.P. now owns 17,701 shares of the utilities provider’s stock worth $724,000 after buying an additional 553 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OGE has been the subject of several research analyst reports. Barclays increased their price objective on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a research note on Monday. Finally, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and an average target price of $45.67.

OGE Energy Trading Up 0.9 %

NYSE:OGE opened at $45.17 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock’s 50 day simple moving average is $43.45 and its 200-day simple moving average is $42.07. OGE Energy Corp. has a 12-month low of $32.37 and a 12-month high of $46.54. The firm has a market cap of $9.09 billion, a P/E ratio of 20.53, a PEG ratio of 3.30 and a beta of 0.70.

OGE Energy Announces Dividend

The company also recently disclosed 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 3.73%. OGE Energy’s payout ratio is currently 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.