Mirabella Financial Services LLP Acquires New Shares in OGE Energy Corp. (NYSE:OGE)

Mirabella Financial Services LLP acquired a new position in shares of OGE Energy Corp. (NYSE:OGE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 33,079 shares of the utilities provider’s stock, valued at approximately $1,364,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of OGE Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock worth $883,311,000 after acquiring an additional 203,129 shares during the last quarter. Boston Partners boosted its stake in OGE Energy by 6.6% during the 4th quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock valued at $172,554,000 after purchasing an additional 258,989 shares during the period. Geode Capital Management LLC grew its position in OGE Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider’s stock worth $138,845,000 after purchasing an additional 15,415 shares during the last quarter. Dimensional Fund Advisors LP grew its position in OGE Energy by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,907 shares of the utilities provider’s stock worth $94,913,000 after purchasing an additional 121,446 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake 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 purchasing an additional 218,509 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $45.01 on Monday. OGE Energy Corp. has a 1 year low of $33.42 and a 1 year high of $46.91. The firm has a market cap of $9.06 billion, a P/E ratio of 20.46, a PEG ratio of 3.30 and a beta of 0.57. The stock has a fifty day moving average price of $44.57 and a two-hundred day moving average price of $42.75. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be paid a dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.74%. OGE Energy’s dividend payout ratio is currently 76.36%.

Wall Street Analyst Weigh In

OGE has been the subject of several analyst reports. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, April 11th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a report on Monday, March 17th. Finally, Barclays upped their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

OGE Energy 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.