Ashton Thomas Private Wealth LLC Acquires 43,895 Shares of OGE Energy Corporation $OGE

Ashton Thomas Private Wealth LLC raised its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 302.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,392 shares of the utilities provider’s stock after buying an additional 43,895 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in OGE Energy were worth $2,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Partners raised its stake in OGE Energy by 15.7% during the 2nd quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock valued at $277,388,000 after purchasing an additional 846,365 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of OGE Energy by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,555,290 shares of the utilities provider’s stock worth $157,824,000 after purchasing an additional 26,569 shares during the period. First Trust Advisors LP raised its position in shares of OGE Energy by 51.2% during the second quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock valued at $104,732,000 after buying an additional 799,264 shares during the last quarter. Norges Bank bought a new stake in shares of OGE Energy in the second quarter valued at about $101,421,000. Finally, Franklin Resources Inc. lifted its stake in shares of OGE Energy by 0.7% in the second quarter. Franklin Resources Inc. now owns 1,730,071 shares of the utilities provider’s stock valued at $76,781,000 after buying an additional 12,724 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OGE. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. BMO Capital Markets initiated coverage on OGE Energy in a research note on Tuesday, January 13th. They issued a “market perform” rating and a $45.00 target price for the company. Jefferies Financial Group raised their target price on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of OGE Energy in a report on Friday, January 23rd. Finally, Barclays reduced their price objective on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.13.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $43.97 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52. The business’s fifty day moving average price is $43.24 and its two-hundred day moving average price is $44.45. OGE Energy Corporation has a fifty-two week low of $40.80 and a fifty-two week high of $47.33. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were given a dividend of $0.425 per share. The ex-dividend date was Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.9%. OGE Energy’s dividend payout ratio (DPR) is 68.27%.

About OGE Energy

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.