Avantax Advisory Services Inc. Cuts Stake in OGE Energy Corp. (NYSE:OGE)

Avantax Advisory Services Inc. reduced its stake in shares of OGE Energy Corp. (NYSE:OGE) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,450 shares of the utilities provider’s stock after selling 2,894 shares during the period. Avantax Advisory Services Inc.’s holdings in OGE Energy were worth $802,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC lifted its holdings in shares of OGE Energy by 16.3% during the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after acquiring an additional 78,164 shares during the period. Navellier & Associates Inc. purchased a new position in shares of OGE Energy during the 3rd quarter worth about $785,000. PEAK6 Investments LLC purchased a new position in shares of OGE Energy during the 3rd quarter worth about $783,000. BNP Paribas Financial Markets lifted its holdings in shares of OGE Energy by 316.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after acquiring an additional 26,411 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of OGE Energy by 14.2% during the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 810 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Up 0.3 %

Shares of NYSE:OGE opened at $45.31 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54. The company has a 50 day moving average of $43.54 and a two-hundred day moving average of $42.09. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth 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 $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

Wall Street Analysts Forecast Growth

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