OGE Energy Corp. (OGE) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan decreased its position in OGE Energy Corp. (NYSE:OGE) by 4.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,820 shares of the utilities provider’s stock after selling 3,300 shares during the period. State Treasurer State of Michigan’s holdings in OGE Energy were worth $2,364,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Krilogy Financial LLC grew its holdings in shares of OGE Energy by 133.3% in the 3rd quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,600 shares during the period. Cerebellum GP LLC acquired a new position in shares of OGE Energy in the 4th quarter valued at $122,000. Resources Investment Advisors Inc. grew its holdings in shares of OGE Energy by 75.1% in the 4th quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock valued at $154,000 after buying an additional 2,003 shares during the period. Jane Street Group LLC acquired a new position in shares of OGE Energy in the 3rd quarter valued at $205,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of OGE Energy in the 3rd quarter valued at $216,000. 62.00% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on OGE shares. Bank of America started coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target for the company. Zacks Investment Research lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Edward Jones lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Goldman Sachs Group raised shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday, January 10th. Finally, UBS Group assumed coverage on shares of OGE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $36.67.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Wednesday, January 10th were paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Tuesday, January 9th. OGE Energy’s payout ratio is presently 69.63%.
In related news, VP Patricia D. Horn sold 10,051 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $35.56, for a total value of $357,413.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.
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OGE Energy Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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