Harvest Fund Management Co. Ltd Acquires New Holdings in OGE Energy Corp. (NYSE:OGE)

Harvest Fund Management Co. Ltd acquired a new stake in OGE Energy Corp. (NYSE:OGE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,857 shares of the utilities provider’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after purchasing an additional 185,069 shares during the period. Boston Partners increased its stake in OGE Energy by 6.6% during the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock worth $172,554,000 after purchasing an additional 258,989 shares during the period. Geode Capital Management LLC increased its stake in shares of OGE Energy by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock worth $137,433,000 after buying an additional 40,733 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of OGE Energy by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,350,343 shares of the utilities provider’s stock worth $55,702,000 after buying an additional 10,510 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after buying an additional 265,115 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OGE has been the topic of a number of recent research reports. Barclays upped 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 note on Tuesday, February 25th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, OGE Energy has a consensus rating of “Hold” and a consensus price target of $45.67.

OGE Energy Stock Performance

Shares of OGE opened at $44.95 on Friday. The stock has a 50 day moving average price of $43.65 and a 200 day moving average price of $42.13. 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 company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $46.54.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is currently 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.